The P5 (largely because of the SEC) are headed towards university-branded semipro athletics.
If the P5 really wants to go that route for football only, I don't see why they should be in the NCAA at all - or why the NCAA would want them. If you say "TV dollars because of the Big Dance", I'm not on board because the NCAA was founded for some very specific reasons, all of which are being thrown out to appease the P5.
I mean, the NCAA minus the P5 would suck for basketball (maybe not as badly as we might think though), but I think that NCAA would be better in the long run without the P5 because the NCAA could run a much leaner, more student-focused organization if they didn't have to kowtow to the big boys. The P5 certainly does absolutely jack shit for D2 and D3 (that's nearly 800 schools right there.) I just don't like a model where 60 schools are calling the shots for the other 1000+. Every single time some bobo on ESPNU spouts off about how something "is good for college football", they are NEVER thinking of the G5, FCS, D2, D3 or NAIA. And they are never right... it's not ever good for college football - they are always talking about "good for TV."