Fair points, but the reality is the ACC and Big 12 ARE second rate conferences to the people that matter. They'd be third rate if they tried to split off. Keep in mind the ACC was lucky to get in two last season, and the Big 12 only got one.
It's a crappy situation, but it's the reality. ACC/Big 12 have less than zero leverage.
The ACC and Big XII don't have much leverage now. However, they will have absolutely zero within 5 years if they cede every bit of self-respect and agree to vote for a 4-4-2-2-1-1 framework in a 14 team playoff. After 5 years of the non-P2 top brands having twice as difficult a time of making the playoff along with getting a little more than half the playoff payout as the P2, those top brands will jump ship to the P2 so **** quick and the ACC/Big XII will officially be in the Group of 7 at that point. That is of course, if the P2 even wants those brands after 5 years of fewer resources and opportunities.
I say call the B1G and SEC's bluff while they still can. Let's see how well the SEC/B1G Invitational would do in the ratings. I know if the Canes have no chance of playing in it, I'm not watching it and I imagine there are quite a few FSU, Clemson, VT, ACC, and Big XII fans who feel the same way.
It probably wouldn't work, but if they simply take the alternative, they are sealing their fate for sure. Who knows, maybe CBS, NBC, or Fox wants in on the competitor playoff to the B1G/SEC Invitational? Obviously for less money, but a way to steal some ratings from their ESPN competitor.
It's all probably moot anyway. I'm sure ESPN agreed to keep the ACC TV contract through 2036 in exchange for the ACC to play nice and submit to their fate in the G7.
PS - I don't even know why the B1G and SEC would make 4 guaranteed slots a requirement as they will likely end up with at least that many slots without any guarantees in most years.