@JayHawkFanToo
First, I always think you know what you are talking about on this subject; i.e., that you have looked into it and are accurate, as far as you take it.
Second, I do not gamble and so I am not an authority on Big Gaming. I am late to the study of the gaming industry. I wouldn't have looked into it at all, but for the fact that it is necessary to understand, if one wants to understand the business of sports, which is necessary to understand, if one wishes to advocate informatively for KU Basketball.
Third, it appears that Big Gaming is the core business, Big Media appears to be a possible means Big Gaming uses to re-shape bettor expectations and stimulating betting volume, and sports are largely content used as marketing tools for promoting media watching and sports betting.
Fourth, If Big Gaming operated in a perfectly evenly distributed spatial universe of bettors, and spatial universe of teams/games, you would probably be exactly right and we would probably not only not be having this discussion, but we would probably also likely not be witnessing the recurring phenomenon of the Big 12 being over-hyped and then not living up to expectations most seasons.
Fourth, in USA, the spatial universe of bettors is highly unevenly distributed, because the population is highly unevenly distributed. Here is a percentage of US population broken down by time zone.
Eastern: 47%
Central: 32.9%
Mountain: 5.4%
Pacific: 14.1%
Alaska and Hawaii: .6%
In trying to balance betting on basketball games, there is always a problem of overcoming the imbalanced spatial distribution of bettors; i.e, overcoming the tendency of EST betters betting more on EST teams and EST games than on CST teams and CST games and vice versa. One spread may achieve balanced bets in the EST, but not in CST, and vice versa.
There is also the imbalance triggered by bettors forming rational expectations over time; i.e., bettors seeing EST teams tending to win more games in the NCAA tournament and tending to win more NCAA championships.
In essence, spatial distribution imbalances and rational expectations imbalances have to be corrected for in order for any given spread on a game to satisfactorily balance betting at its highest reasonable volume.
Re-shaping bettor expectations of outcomes appears one of several feasible ways the problem can be addressed. I highpothesze that reshaping bettor expectation of which conferences are best over the course helps increase betting on CST teams by CST bettor and EST bettors in a way that enables a spread to overcome the intrinsic imbalances of spatial distribution of bettors and rational expectations of bettors.
Because reshaping bettor expectations appears feasible to do with mass media, same as mass media can reshape consumer presences in advertised products, it makes sense that such reshaping would be done to enable the balance betting that you refer to as the objective of Big Gaming in setting and iterating spreads to achieve betting balance.