This ^.
The old bowl system was designed to keep the elite programs in power. Media, appointed committees to pick, conference leaders in control, etc. all combined to create the system that led to ... this. Boredom, the same schools, money driven. etc. snoozefests.
The example of what it could be has been sitting right in front of them for decades. Football's version of March Madness. But it means they will have to give in on their power trip ways. It means a win-win instead of win-lose philosophy. It means a shorter regular season, but more opportunity in post season for a lot more teams. It means acknowledging that easier paths to the NC for the elites has to end for the betterment of the game because fans are becoming disinterested in record numbers, which affects all programs.
Just going to a bowl means very little now. Opting out will be more the norm with better players. Why risk injury if your goal is to win on the NFL draft day and go pro? The scouts don't need a guy to play in a nothing bowl to see how he might stack up. They use the Senior Bowl and such for the marginal and the combine for the better. They have seen their future draft picks play many games already. NIL kills many player motives to go to lesser bowls for the swag.
You don't need lesser bowls as an incentive to have the benefit of extra practices when the season is already essentially over. Just expand the number of practices that are allowed at other times of the year, like spring and fall. They matter much more then.
It's the playoffs that should matter now. Expand them and adjust the schedules. Watch the money and interest pick up big time.