I wouldnt be excited to play for a trophy that says i beat Tulane or Wyoming but i guess some fans get warm fuzzies from that.
Theres also the aspect that we would be trading 2 or more P5 games a year for a chance to play one at the end of the year in a bowl. (keep in mind we havent capitalized on that chance since 1996 when i was a 5 year old)