I don't think having only five Test teams because five of the boards can't afford to play Tests anymore is really any more desirable than having only five Test teams because the BCCI say so, in the end.
That's the rub, isn't it?
The entire problem with giving the BCCI more power in the first place is that we know full well they'll manipulate the situation to give themselves more money, so manipulating the situation to give them more money to avoid that is a bit like shooting your mother to protect her from the danger of being stabbed by your next door neighbour.
I don't think that's really it, though. The BCCI probably has two main aims here, both of which also serve to maximise revenue in a way that isn't as scary as people seem to think.
(a) A window for the IPL (which is probably why Giles Clarke has hitched his wagon with the BCCI - The ECB cannot afford India going it alone and expanding the IPL to eat into the English summer),
(b) A proper home season - Think of the SA-Aus conflict a couple of years back wrt playing over the festive season. That's the exact same problem India has. The BCCI needs a proper home schedule from Sep-Feb, and wants to bring back the once traditional New Years and Pongal Tests. There's a feeling within the BCCI that India has been forced to make concessions by forgoing home series' over that period for donkey's years due to the FTP and the Aus/SA insistence on not touring overseas over that period.
There's no point in carving out a home season if you don't have teams that are available to tour at that time. Australia definitely won't (you could say they're being
greedy), South Africa probably won't. India can't host England every year. There would be no obligation for NZ/WI/SL to tour India if India doesn't tour NZ/WI/SL. Problem solved. There's no crisis.
The BCCI concedes the ridiculous veto by proxy and gets what it really wants - a window for the IPL and freedom from the FTP allowing them to plan a proper home season.