All the teams don't end up playing each other and you have a confusing situation at the end of the season like the B12 is experiencing now. BYU didn't play ISU or Colorado. Colorado didn't play BYU, ASU, or ISU. ASU only played BYU. ISU didn't play BYU, ASU, or Colorado.
I'd prefer smaller conferences where all the teams play every other team in the conference. In the current situation you can end up with two teams with the same record each playing wildly different schedules with completely different levels of difficulty.