Does any of this really matter? This sounds to me like if the Big East and CUSA were fighting each other in 2012. What's the point?
The reality is that the power conference Pac 12, the one that had USC, Oregon, Washington, UCLA, Stanford, etc, is dead. What you are left with is a conference filled with Mountain West / WAC teams. It doesn't really matter that you have the old name, you're still not the same conference you were. It's not that different than the 2014 "Big East" (er...I guess by then they had even sold the name) of UCF, SMU, Houston, Tulsa, UCONN, and Memphis, and pretending that it's the same conference prestige (and deserving of the same auto-bid) as the one that had Miami, Virginia Tech, WVU, Pitt, and Syracuse.