I am all in on the Appleverse, nothing but Apple devices in my house. However, if Apple is the main streamer and if watching PAC12 games requires a subscription above and beyond my Apple TV+ subscription (like MLS or MLB on Apple) then I will not be watching any of those games.
I think this is the problem the PAC may be struggling with. Apple may be offering decent money, but to offer that they may need to charge their users fees above their standard Apple TV+ offering, which would impact visibility.
I'm not sure how many people watched MLS prior to Apple and I can't believe more watch now.
Eventually streaming will win. But, while the balkanization of sports broadcasting may increase revenue per league, it will reduce viewership. For example, I would only be willing to pay for BIG 12 football and Baylor Men's basketball games and something that let me watch a couple of NFL games on Sundays. Major sports leagues will do well in this environment. They will be able to capture some of the money people are paying for broad subscriptions that currently pay for the broadcast of less commercially viable leagues.
So, for example, if the WNBA thinks viewership is bad now, wait until their games are paywalled. There are other sports that would be similarly impacted. I wouldn't pay a nickel to watch the Olympics. I usually watch some swimming and track, maybe downhill skiing events or luge/bobsled (waiting for an epic wipeout mostly), but not if I had to pay.
Illigitimus non carborundum
