Adinho Welcome to the forums! and what a juicy post. I don't think I've ever considered Troy to be the one black mailing Chad and Dawe. It'd make sense since he has motive for being kicked out of the jocks.
He could potentially be working with the Tri-Betas because I still think it's Sally taking Jamie's phone since we're shown her dancing with him in episode 2 at the DIKS
Jumping off of what you two just theorized. What if there's no mastermind? But several different interests sometimes coinciding with each other. The frat stuff can be a mix of Troy still butthurt about getting kicked from the Alphas and things escalating beyond his control.
Vinny could have something against the DIKs, or even better, B&R and wants to see everything burn. Some people said in here that they wanted someone who would be able to match de MC, that's this guy. He is basically the evil version of the MC.
At last we have Burke with his fingers deep into several pies in the campus. He seems like the "Big Bad", but he could be just a corrupt college professor, bainging university students because of some third life crisis and out of control.
Even Quinn, that a lot of people see like satan, is just expanding the family business into B&R and noticing it isn't that profitable.
Anyway, things could be more interesting like this, if we have several different assholes trying different and often competing schemes and things getting out of hand.