Maybe I’m a renegade on this topic, but I am happy with the current 10 team conference. Unlike recent years, the Big-12 looks very stable right now.
In both football and basketball, I like playing all 9 conference opponents every year. I can see good rivalries developing with teams like WVU and TCU.
For me, having too many teams was one factor that diminished some of the appeal of the prior league. The wonderful and historic rivalry with Nebraska was lost when the conference was split into divisions. That really sucked as far as I am concerned, and the split into “divisions” is what ruined that rivalry. They quit playing every year.
Also, in basketball, I love playing the "North" teams like KU and KSU in Norman every year.
Let's stick with what we have for the next decade or so and see what develops.