I disagree on both fronts

First of all, it wouldn't neuter the conferences. Most likely it would reset them to their old alignments. Secondly, I don't think it's a positive, at least as it pertains to ND specifically. I base both thoughts on what I think is the most likely "division alignment." That would likely end up with ND in basically the old Big East football.

Boston Col.
Syracuse
Rutgers
Penn St.
Pittsburgh
W. Virginia
Va. Tech
Cincinnati
Louisville
Notre Dame

Clemson
Duke
Maryland
N. Carolina
NC St.
Wake Forest
Virginia
Ga. Tech
Florida St.
Miami

Illinois
Minnesota
Northwestern
Purdue
Wisconsin
Michigan
Indiana
Iowa
Ohio St.
Michigan St.

Alabama
Auburn
Florida
Georgia
Kentucky
Mississippi
Miss. St.
S. Carolina
Tennessee
Vanderbilt

Nebraska
Missouri
Oklahoma
Colorado
Iowa St.
Kansas
Kansas St.
Okla. St.
BYU
Utah

Texas A&M
Texas
Baylor
Texas Tech
TCU
SMU
Houston
Arkansas
LSU
C. Florida

California
Washington
Oregon
Oregon St.
Wash. St.
Stanford
USC
UCLA
Arizona
Arizona St.