Because the selection committee only looks at a conference championship and not how it was attained,

Um, where did you get this from? Are you on the selection committee or is your uncle? How do you know what criteria they will consider?

The fact is that there are 5 conferences and 4 teams, plus an outside shot that a G5 team makes it. That means at least 1 P5 champion, and possibly 2, will not make it, especially if the SEC or another conference gets 2 slots. So, the quality of your championship matters.

If you have another year with a muddled Big 12 championship, where no team is undefeated in conference, then not having a CCG certainly hurts your chances and makes you more like to play in a consolation BCS bowl than in the playoffs. You might be Big 12 champion, but there is at least a 20% chance you do not make the playoffs, and those odds go up based on the other factors above. You really want to be the only conference champ that didn't win a title game?