Tradition = squat in bowl games now. Its a fraud system, with opponents selected to generate revenue. You're telling me Georgia didn't deserve a shot last year ? Or Missouri ? Of course someones gonna bitch, but doesn't a team that goes undefeated, or 1-loss deserve a shot if their schedule is tough enough to get them a top 16 rank ? If you're #17 too fucking bad (thats already what we tell #3-#16 now anyway) schedule a tougher regular season, and don't lose so much.
As far as money goes (the actual reason the univ presidents don't want playoffs, check out their individual bonuses) you can't convince me a former div-1a playoff wouldn't be a smashing commercial success. A month long battle right after the regular season, keeping the teams fresh (no 2 month wait) and action near constant. March madness doesn't make money ? Of course it does, now replace basketball, with football. If the BSC makes so much sense, why doesn't anyone else (including other college football divisions) use it ? Because its stupid, its seriously that simple. You could even run a #17-#32 side tournament like the NIT, even more revenue, and gives the bubble teams something to play for.