Not sure if it's good or not...if this happens, look for ND to perhaps join the Big "14" for all sports except football - aside from mens hoops, the Big "14" will have an advantage as far as non-revenue sports and geographical fit for them. That would leave the big east with SJU, Hoyas, Nova, Providence, Hall, DePaul, Marquette, Rutgers, UConn (with the latter 2 itching to bolt - and they probably would eventually).
That leaves 7 teams, throw 5 A 10 teams (say Xavier, Dayton, Temple, UMass, Duquense). That's a good hoops conference but not much else (as far as non-revenue sports). It will take a good negotiatior to get that league a good tv deal as compared to the other conferences.