I think being in a 16 team conference would be horrible. That's just too many teams. The average person wouldn't even be able to remember who all was in the conference.
In football you'd only be able to play teams in the other division once every four years, and if you did the home and home thing like the B12, that's two games every 8 years. How sucky would that be? And you'd probably routinely have conference champions who barely even beat half the teams in the conference, and quite likely, it could be the norm where the champ doesn't even do that.
The only way to play all the teams in the conference in basketball would be if you only played some of your division mates once. Sucky again. Most likely you just wouldn't play all the teams.
I think if you have a 16 team conference, it will be just like 2 8 team conferences, and when you win your 'conference', it doesn't really mean anything. Maybe they'll make more money, but I just can't imagine anyone anywhere liking it much in the long run.
There are times when you can do something you think is fixing one thing but it ends up breaking something else in the process.