Fair questions. Cal-Stanford is a top-10 CFB rivalry, one that any network would want as part of its queue of games. ESPN is thrilled with its SEC partnership, and the ACC to a somewhat lesser degree, but the 10pm games on Saturday night are VERY important. The Pac 10/12 for all of its recent struggles, delivers these games that are important for ESPN to own (and to keep away from FOX).
The endowment is important because it points to the general health and profile of a university or college. There are essentially no healthier school than Stanford. At least among schools that play college football at the FBS level.
I am also confident that college football on the West Coast will rise again.