It's the only way. The problem I see with the Pac-12 vs the other conferences is what we've known for a long time. The SEC, B1G, Big12, ACC, all its fans, school Presidents care a lot more about college sports than do their counterparts in the Pac-12.
For a while it didn't matter as much, and USC was in a position to where it could carry the conference. Then Chip arrived and Oregon became a Brand. But the SEC saw what was happening. College football was devolving into entertainment, and the money exploded.
Not enough of the schools in the Pac-12 care as much about competing as do Oregon and USC. Nothing against Washington Coach DeBoer, but he's not Riley or Lanning.