I've long imagined something like this. Maybe it could actually get spurred by the creation of a super league. Or maybe the dysfunction of NIL and the portal and the complete lack of centralized NCAA authority will get to the point where heavily academically minded schools can no longer justify claiming that their revenue sport athletes are actually "students" at the school--or can no longer compete when they insist on treating their student athletes as students.
Presumably, the Ivy League will keep doing its thing. But you could create a conference of top-25ish (in academics) private Division One schools that share a mindset when it comes to balancing academics and athletics--hoping to find a sensible middle ground between the super league and the Ivy League. Stanford, Duke, Rice, Vanderbilt, and Northwestern would all seem to be ideal candidates. Georgetown would be great too, even though their football chops are a sizable step below the others. Notre Dame and USC would fit the profile as well, but I'm skeptical that they would turn down super league invites and make that kind of commitment to academics over semi-professional athletics if put to the choice.
The league could expand to schools like Wake, BC, Villanova, Tulane, SMU, GW, etc. But that would both increase the size of the league by what might be too much and water down the elite academic brand. (Obviously, those are all great schools. But, at least from a traditional rankings standpoint, they are a meaningful notch below the others.)
The league could also, in theory, expand to include the academically comparable public schools -- Michigan, UVA, UCLA, Cal (maybe UNC (ugh), Texas, William and Mary, GT). But I suspect that at least Michigan, and probably most of the others, would be highly unlikely to choose this path.
I'm not sure what this would mean for Duke basketball--whether it would be possible for us to remain a perennial national championship contender. And so I'm not sure that I would actually support it. But I do see a tremendous upside.