These tv networks help drive in revenue for the conference, and help publicise more sports like soccer, baseball, wrestling, and much more. They also allow more homes access to watch sporting events, and are more convenient, with mobile apps to watch games on the go. The pros outweigh the cons.
First off, I'm not the biggest college sports fan in the world. Sure, I enjoy watching sole college football here and there, and who doesn't like March Madness?! To say that every conference should have its own TV network is beyond me. Maybe that could work like it does online (get a subscription and watch every conference game via their website). It would take alot of work for a major conference to get its own TV network and gain the rights to their own games. Just a personal take.