I think as a fan you have to make a decision on what's most important to you.
Is it that you will only follow and support GT football if it is playing in the highest tier (which is likely to be the SEC and B10) or you will follow and support GT football regardless of what tier it is in.
That is a personal decision every fan may have to make down the road.
If GT isn't invited into the B10 or SEC, that doesn't mean GT is going to be playing FCS football for example.
I am expecting eventually the FBS is going to divide into 2 or 3 tiers for college football purposes. My expectation is that GT is likely to be in that 2nd tier, but maybe it ends up in Tier 1, but that is for the future to decide. I also expect each tier will have its own rules and regulations in terms of how many scholarships to give out, how much money to pay athletes, how large your athletic budget has to be, how many sports you have to fund, how large your stadium has to be. There are regulations around those now for all the P5 and G5 conferences.
I mentioned above about TV viewership, but the bigger long term issue for college football is probably butts in seats. Attendance has been decreasing for over a decade and actual attendance is considerably worse than announced attendance. The Wall Street Journal has a graphic with sold vs scanned tickets for 96 FBS schools. In general for P5 schools most of them the percentage of scanned tickets to announced attendance hovers between 70-75%. The percentages at most G5 schools are considerably worse. GT was at 72% in 2021. TN and WI were the 2 P5 schools with the highest % at 88 and 84% respectively. FSU was a pretty awful 57%.
How many college football fans are actually in the stands?
At many Football Bowl Subdivision schools, the number of tickets scanned at the stadium falls far short of a team\graphics.wsj.com
This is largely my view. I would rather be competing for championships in a "leftover" ACC than playing zero historic or regional rivals and basically finishing 12th out of 18/20 teams every year.
The only thing that makes me hesitate is the hypothetical that, if we double (triple?) our athletic revenue through one of these major conference TV deals, could we get back to competing at the highest level with the "big boys?" Maybe.
Right now, we are desperate for money and I truly believe that has been one of our biggest obstacles to competing in the ACC. Even if we wanted to, we couldn't financially make a high level coaching move in either football or basketball, let alone both.
The other part of that equation is, of course, NIL. Even if we get the money as an institution from a much bigger TV deal, will we ever have the market to compete for the players? There is a reason that there are barely any successful college programs in big city markets and the vast majority of power schools (and big NIL deals) are in rural areas. Tech is a small fish in a huge media/sports market. I don't ever see us being able to compete at the top level in the new NIL market. We just don't have local businesses that will sustain those endorsement deals when those local companies can instead sign deals with Falcons, Braves, Hawks, Atlanta United, or even UGA players, etc.
So, I still lean towards sticking with the ACC and competing against whatever is left after 5 years, even if a few flagship "football" schools like ND, Clemson, and FSU are gone. I wouldn't hate competing against UNC, UVA, Duke, Pitt, UL, VT, Wake, BC, (W. Va?), (UCF/USF?), etc. That is a pretty good spot for Tech in the new sports landscape in my opinion.