The last part is the key - it seems like double-counting OOC SOS encourages the opposite of what the NCAA's intentions are.
I actually wouldn't mind that, play 2-3 cupcakes and then all P5 schools - as long as all the other P5 schools did the same. It's a smart road for the big conferences to go down with the intention of eventually leaving the NCAA.
Well, we're all trying to read the tea leaves on their true intentions.
My guess is that they are concerned about conference realignment and the growing number of at-large teams from a small subset of conferences. It could get to the point where there are 32 AQ teams, and then 36 additional teams from maybe 4-5 conferences. That would start to downgrade what were previously considered "mid-majors" to the point of extinction - leaving just "major" and "minor" conferences.
Many teams that previously had "mid-major" success have been consolidated into multi-bid conferences, leaving their prior conferences without as much competition at the top.
The Big East now has:
Xavier (13 bids from the A10 from 1995-2013)
Creighton (9 bids from MWC from 1998-2013)
Butler (6 bids from Horizon from 2001-2012)
Marquette (4 bids from CUSA from 1995-2005)
The AAC now has:
Cincy (10 bids from CUSA from 1995-2005)
Memphis (9 bids from CUSA from 2002-2013)
Wichita St (6 bids from MWC from 2011-2017)
The P12 now has:
Utah (13 bids from WAC/MWC from 1990-2011)
The ACC now has:
Louisville (14 bids from Metro/CUSA from 1987-2005)
And that's not even considering several other "frequently above .500 as a mid-major" teams that didn't get bids from mid-major conferences that have been picked up by larger conferences, like Tulane, East Carolina, Houston, DePaul, etc. The loss of those teams/markets from mid-majors has dropped their overall competitiveness and slowed the inflow of money.
While the changes to the transfer rules have helped create some more parity, the growing television contracts have had the opposite effect of consolidating the better teams into fewer conference buckets. This road could lead to the major conferences splitting and saying "we'll make our own tournament to include an AQ from the minor conferences and select the at-large from our own ranks".