I suppose another way to look at it is that this brings us one (tiny) step closer to Slive's vision of a world without mid-majors. It will be interesting to see if he tries to put together an alliance with multiple conferences.
It would be cool if all of the major conferences did this with each other...maybe even x 2. Each major conference team would play two games against teams from each of the major conferences; one home game and one road game each season (not the same team for both games).
That would make for some great games and would still only take up 8 non-conference games per season.