Or maybe it's not a black vs. white situation. Who decreed that there can only be The One? Who says that the game of football must be boiled down at the major college level to deciding only one champion? That's never been the case. And even if it were made the case in the Bowl Subdivision, it still wouldn't be the case as smaller schools would still have their own, different championships.
The fact is most college football players do not turn pro. Having a once-in-a-lifetime bowl experience in some place they'll never be again is, quite simply, a hell of a good time. You get to play a game you love against other players from a different part of the country and make some friends and see the sights. That's what the "awful" bowl games were really all about. So, a bowl game is both a football game and a unique college experience.