If the Pac can keep UW, Oregon, Cal and Stanford in play, while killing off the MWC as any kind of legitimate evening content, there's a chance a Pac 14 could survive at the same level as the new Big 12, as they would own all of the evening content outside of USC/UCLA, and neither of those programs will agree to always playing at night when they are at home.
At that point, however, I think the B1G would just expand and take the other 4 west coast teams and kill the Pac 14, as I'm sure FOX would just take their MWC money and give it to the B1G as incentive to expand.
So, end of the day, the only way any of that works is for the Pac to get everyone to sign a 5-7 year GOR to stabilize things until the B1G is negotiating their next deal. Hell, it reminds me of gambling, like here -
https://betpokies.co.nz/live-casinos - I play with live dealers here sometimes.