The chief positive for T&F/XC if the CFP spins off from the NCAA is that conferences that exist for all other sports (including T&F/XC) would have the opportunity to realign with tighter geographical ties. This would mean that a West Virginia wouldn't have to travel teams to Texas for conference championships, a Boston College wouldn't have to travel teams to Florida or Georgia for conference championships, a Kentucky wouldn't have to travel teams to Texas for conference championships, a Colorado wouldn't have to travel teams to Washington or Oregon for conference championships. However, this presumes that once P5 football programs are out of the NCAA that conferences will choose to realign in that manner, that this isn't a pandora's box situation where college and conference officials are now in love with having the profile of a conference stretched most of the way across the country and don't mind all the travel expense involved for conference schedules for soccer, volleyball, water polo, etc.
It's hard to guess any further impacts without knowing what investment would be required to be part of a break-away CFP structure, what income should be expected, and where that funding would come from and go to for a given university. It seems like it won't really change much, those who are traditionally highly interested in supporting T&F/XC will probably keep to that path.
Oh, and this absolutely is about gaining eyeballs for televised conference network packages. That's the money driving conference realignment, nothing has changed there. Breaking away from the NCAA would be about having the power to make their own rules about player recruiting, compensation, and eligibility.