if it is too diluted, they would be losing money, ticket buyers, ratings & go out of business. the growth in the number of bowls seems to indicate the opposite is true.
people love college football, love it. The more of it the better, love all the spring games on the SEC N & B1G N. if you don't want to watch a mid December exhibition game between a 6-6 MAC vs a 5-7 SEC school played in some podunk town in the south, then don't. ESPN especially is ponying up the money that lots of fans do want to watch this. Advertisers & sponsors think so as well.
sucks for the state of South Carolina. they get rid of the Confederate flag which prevented them from hosting NCAA events, and now the door gets shut before they can go in. a bowl game in December down there would be fantastic.