The BCS "formula" started as way to keep the little guy down (and was pretty bad), for a variety of reasons it eventually became a pretty solid selector tool, with a balance of objective (computers models) and subjective (many voters) tools but no one tool with a inordinate amount of sway.

Once the formula was perfected it was swiftly eliminated in favor of what was claimed to follow the basketball model but in reality was just ensure the money and power stayed locked into the right spots.