I'll explain it again.
I like bowl games. I always have liked bowl games.
I don't like the play-offs for a number of reasons.
One of the reasons I don't like the play-offs is because, in the minds of many, they tend to diminish or marginalize, more and more, the other bowl games .
So, my thoughts are think are symmetrical. I don't like the play-0ffs and feel that the bowls - all of them - should be meaningful to the schools, players and fans. If there were no play-offs there would be less tendency to marginalize the other bowls.
As far as you last thought, it is obviously true that because there are far more bowls than there used to be, making a bowl does not mean what it used to mean. In 1967 the Orange went 8-2 - with Larry Csonka, Tom Coughlin and Rick Cassata among others - but didn't go to a bowl. Today, of course that team would go to a pretty good bowl.
So, yes, it does not mean what it used to mean.
But, having said that, it's still fun for teams and their fans and all in all it is a positive in my mind.