SEC has been dominated by Bama, but they usually have legit teams in that league, and they recently jumped into elite league status with the rise of Georgia.
The B1G has OSU and Michigan, but that league is consistently overrated. Somehow they start the year with half the league ranked so when they inevitably beat each other due to mediocrity, they look like big games.
Then there’s the battle for the #3 CFB Conference between the ACC and the Big XII. That probably goes to the ACC due to recent National Championships, but if Texas is for real, that gives them that second team.
It does seem like the CFP is the leading indicator of conference strength. It’s why the ACC, due to Clemson is probably viewed in a brighter light than the Big XII.
The PAC-12 is a dumpster fire due to a ton of reasons. That league is in a lot of trouble due to on the field, and off the field issues in the two major revenue sports, but they do have a decently competitive conference with 5 ranked teams entering the year... yet no contender. (Shows how important having a contender is)
You need big games as a conference though. As of the start of the season, the ACC has one. Clemson @ Syracuse. I don’t even know what the #2 game would be... Clemson/Syracuse vs FSU? Assuming FSU isn’t terrible again.
I do think a lot of programs could jump into the top 25 at various points this year. Perhaps UVA, Miami, FSU, UNC, NC State etc.