Yes it legitimizes one more game (plus the championship so I guess two more games) but still funnels the purpose of the season into one bottle - the college football playoff.
Now there are LESS tie-ins to bowl games. Less rivalries between conferences. Less reason to showcase skills on television in January. Unless you're looking at the four teams in the playoff.
Sure, it's great for TV, determining the one true champion, and putting more emphasis on professionalism in college sports. But as for pageantry, rivalry, and tradition? It sucks.
I'm one that wants to go back to before the BCS and have polls and have two or three champions and not wonder if Alabama lost to Oklahoma because they had no reason to care (they did, it's the SEC's flagship bowl game and they should want to win it for conference pride). I want to watch the Rose Bowl and think it's the grandaddy of them all with two conferences engaging in football competition that started decades ago. I want to see Peach, Citrus, and Gator in front of the word "Bowl" and not "Meineke Car Care Bowl" and "Insight.com Bowl" and whatever other corporate sponsor has taken over.
That's just me though.
As to your larger point, no. Just no.
There should be a true champion, just like every other sport. Fuck letting Bama, Ohio State, Notre Dame, and whoever else lay claim to it cuz by-God they think they're the best.
As for what is in bold, that's exactly what I'm trying to convey to Godfather. What purpose did the Cactus Bowl serve before the BCS that it isn't serving now? It wasn't crowning shit. At no point in time did any more than 4 bowls mean jack shit.
Except of course the team's and fan's own pride. Which I'd argue is what college football in general is for. If an SEC team is mathematically eliminated from Atlanta by the last week of the year, they should just not give a shit? College football as an entire organization doesn't exist because we all really want to see to it that Bob Stoops or Nick Saban or Urban Meyer or Les Miles or Gus Malzahn or who ever can buy yachts.
It's just an asinine thing to say.
If nothing else, the bowl game matters because now Bama is 0-2 in their last two games and the college football world is starting to see the cracks in the armor. It showed that Bama has serious trouble playing against a spread offense. The very fact that we're having this conversation is why it matters. Nothing about it is good.