Larry Scott's first major blunder was not allowing Texas to keep the Longhorn Network, which wound up being a deal-breaker for them. He put all his eggs in the P12 Network basket and we know how that turned out.
As long as the University presidents continue insisting on AAU membership (ironic since 3 P12 schools are currently non-members) there's really not much value that can be added outside of the existing P5 conferences. I doubt we are strong enough to poach other P5 conference members. We also know they won't take a religious school, so teams like BYU, Baylor, TCU, etc. are out. We're pretty much boxed in unless the AD's can gain more autonomy and get academia out as the final decision maker in athletic matters. This would seem to be be doable at least in theory. Wouldn't it be great to have the ADs making the final decision in conference alignment/expansion?
The only way the new TV contracts can be maximized IMHO is to have non-conference scheduling with other "Alliance" conferences locked in, for example dropping down to 8 conference games with guaranteed games with 1 BIG and ACC team every year (on a flex-schedule like GK suggests) makes the whole package a lot more attractive.