Brutal ... but can't see where you're wrong!
I'd add that Scott spent a shit-ton of money on their offices and other admin expenses, and that he and the Presidents are/were incredibly arrogant about the PAC's role in the CFB world. See no. 4 on your list for a prima facie example.
I am going to take Warren as being honest (I know, I know) that they still may consider additional expansion once their TV deal is done. I didn't get that at first ... intuitively it would seem to make more sense to have all your teams lined up before you negotiate that deal. But I think they think the maximum per team deal will be as they are currently constituted. Get the deal done, show the other 4 teams they are allowed in, but at a reduced rate, or something more like what they did with Maryland and Rutgers where they didn't get full deals immediately. But, I can see them needing the 4 schools - Cal, Stanford, Ore, and UW - to have a 6 teams western pod or division.
Either way - those 4 teams to the B1G, or the corner teams to the B12 and the PAC is toast. One or both of those are going to happen.