Just because the SEC expands, it does not mean the ACC, B1G, or Pac 12 have to expand too. If they do not think any of these schools add value, then I doubt they expand just for the sake of expansion.
If I had to guess, I bet we end up with the 8 big 12 schools staying together and adding Cincy, BYU (maybe football only), and a couple other schools (houston, memphis, SMU, UCF, or somebody along those lines.
That might be the end of expansion this go around in regards to the power conferences.
We end up in a far worse position that we are currently, but we would become a tweener conference between P5 and G5. If the playoff is expanded, then we would probably still have a path to the CFP.
Obviously, this is a terrible outcome, but much better than ISU/KU in B1G, WVU in ACC, some schools in the Pac 12, and us holding the bag.