i also don't like extending it much beyond even 10 or 12 because it makes the regular season less meaningful.
but... there's no way the ratings can drop. mathematically it would not go in that direction. more teams = more games = more money. it does somehow "devalue" the regular season, but it doesn't seem to get in the way with mlb, nba, nfl, nhl.
and with nil there's not going to be angst about letting college athletes endure more wear and tear.
so, as long as you don't drop more than something like 3 games in the regular season, and your roster isn't totally depleted, you're going to be in and able to make a run and earn more $$$.