It might not be a strictly economic decision. There are certain schools currently grandfathered into P5 Conferences who might decide that joining this new division of athletics is not in the best interest of their university's academic mission. I could easily see WFU, Vandy, and Northwestern giving the idea serious consideration.
All 3 currently stick out like sore thumbs in their respective conferences. Three elite privates with small enrollments, and non P5 Athletic support. While some of their alums would initially raise a stink, I believe the general apathy demonstrated by these fan bases in attending athletic events for the last 50 years tells the true story. They could form a conference of elite privates not included in the P5, competing against each other and the remaining conferences not included in this new super division. Three life rafts would open up, and UCONN would certainly be on one.