I would think so, because they would still have Nebraska and they have USC coming in next year, so I would say yes, absolutely.
Contrast that with the Big 12. They will lose Texas and Oklahoma, next year but they will still remain a Power 5 conference despite having no blue bloods. For those who bring up TCU beating Michigan, in order for TCU to get their shot at Michigan, they had to go thru Oklahoma and Texas to get there. However, starting in 2024, that won't be the case.
Contrast that with the Big 12. They will lose Texas and Oklahoma, next year but they will still remain a Power 5 conference despite having no blue bloods. For those who bring up TCU beating Michigan, in order for TCU to get their shot at Michigan, they had to go thru Oklahoma and Texas to get there. However, starting in 2024, that won't be the case.