10 to 15 years ago the B1G was the laughing stock of the CFB world. Ohio State was it's only national contender, and even in the sunset of the tressel years, Ohio State struggled to compete against the best SEC teams in 2 national titles. Then Urban Meyer changed all of that. Ohio State was beating elite teams, his presence in the B1G elevated the other programs like MSU and PSU. Put pressure on PSU and Michigan to invest in head coaches to compete with Meyer. Even the midlings in the conference were winning their OOC's and bowl games. The B1G started to compete and gain respect.
Now the self imposed death penalty
Ohio State will weather this storm, but as for the rest of the B1G programs? I'm skeptical that they will be able to bounce back by 2025 and play at the same level of 2014 and beyond.
I think the best thing for Ohio State is to find another conference by 2025. OSU should take it's time on this. Throw its weight around, use its influence to persuade other relevant programs in other conferences to create a system, and perhaps a conference realignment, that will make CFB a better product.
This death penalty won't hurt Ohio State in the immediate future, but a perennial weak B1G will.
So what will the B1G look like in 2025? Me I'm hoping it doesn't exist, and the conferences are more competitively realigned, because, come on, Indiana and Rutgers shouldn't be playing P5 football.