championship games, and more likely top access to postseason opportunities.
Football - you play a round-robin, your top 2 are more likely to both have more losses. Everyone has to play the top school, the second-best school, etc. You want higher rated teams, 12 is a better bet than 10, 16 is a better bet than 12.
Basketball - yes, the Big 12 got an impressive 70% of its schools into the NCAA tournament with only 10 teams. I see that as an exception, not as a rule. I think you get more in percentage-wise with 16 than with 10, generally.