Well certainly one of the bigger part of the alliance is to control the nature of conference expansion.The Alliance is a loose affiliation at best. Don't bet on Iowa playing one P12/one ACC any time soon.
Iowa is going to continue playing ISU every year. It is a financial home run. If the B10 drops to 8 conference games, I think Iowa's new schedule opening will focus on P12/ACC. Look for Pitt/BC/Ariz/AzSU/WVU on future schedules, not Oregon or Clemson.
However, it is an intriguing thought if it might evolve into something that also encourages more enticing OOC match-ups.
Money ultimately is another side of the equation. It deals with the ability of a conference to have negotiating power when it comes to live-coverage dollars. Conference expansion was occurring, at least in part, as a means of expanding available markets.
I'm curious how the Alliance might try to leverage things in a way to benefit them financially.