It's expense-preference behavior, and Time reports, contrary to being student-centered.
The big picture shows an enterprise buoyed by its highest profile games but burdened by a weak collection of lackluster college teams and bowl events. Is a team from a mediocre conference with a 5-7 season record really going to attract spectators or sponsors?

The imbalanced rewards for a few conferences and teams in college football bowls are symptomatic of the implosion in financing for big-time college sports.
Something that cannot continue indefinitely, won't.
College coaches and presidents will protest that the “exposure” for their institution is priceless. It’s not—it’s expensive and ineffective. There’s little systematic evidence to show that bowl games help much in fundraising, admissions, or recruitment at most colleges.
Weeknight football is a losing proposition.  And the "exposure" Northern Illinois got from the Orange Bowl (otherwise known as the start of a postseason losing streak) generated more applications, but not from promising matriculants.

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