All leagues have their perennial bottom-feeders. As an example, NFL has consistently dysfunctional franchises like the Jets, Raiders, Browns, Bengals, Dolphins, and Cardinals, to name a few. Granted, the Jets, Raiders, and Dolphins have past gravitas, but it's well in the rearview mirror.
Now, granted, "college" football isn't like the NFL in that there isn't a "National College Football League" - rather, the individual conferences have their own agreements that cover revenue sharing and TV contracts.
Would the B1G kick out, say, Rutgers, Maryland, and Northwestern because they're not "pulling their weight?" I doubt it; I think there would be a push for unequal revenue sharing first (which essentially deep-sixed the Big 12 - caution is advised). And, lesser schools can now point to Indiana as the shining example of a college FB program that really can pull themselves to the top from the bottom.