It wouldn't really affect nationally televised games, so it really only affects local TV deals. I don't understand fully all of the issues, but I know that local TV deals are one of the biggest points of friction in the NBA and cause most of the uneveness among teams. I wonder if at some point local TV deals get figured out and the amount of games can then be reduced.
The local TV deals is a good point. I may be talking out of my *** here, but the main complication there is not really the money but the web of media rights contracts and getting everything in alignment. It's like building a railroad through 30 different counties. You'll have problems if all 30 counties want to get their say in things and it can only really be done if you have all the parties under one central umbrella. It's why league pass sucks and blackouts exists IIRC.
I don't think it makes much sense to have local media TV deals anymore, but that's just how they work. The NBA would have to buyout every contract which must be painful, complicated process. But if they owned the rights to everything they could change more quickly and provide a better product.