Restrictions apply, see website for full details.
The 4 team CFP created this false narrative that any bowl game that isn't one of the CFP bowl games was a meaningless game. Then players started believing it since the media harped on it every chance they could, marketing the CFP so heavily for 8 weeks of the season making it seem every other bowl game wasn't worth playing. So the players started opting out. That is when the bowl games actually became meaningless. They weren't before.
I'm sure they are still meaningful for 2nd and 3rd string players who aren't jumping in the portal, but for fans they are this weird mix of "not quite this years team and not quite next years team either". What does beating a good team from another conference really mean if their starting QB didn't play a snap? And the one that did play won't start next year either, because a transfer will take his spot.
Sadly, I predict a very similar situation for the 12 team playoff except it will effect the regular season. How long till a 3 or 4 loss team starts having their quality players opting out of the last couple of games? What's the point in risking injury when you won't even make a playoff spot? Or hell, when your team is 10-0 or 9-1 in mid November and you've clinched your playoff spot already, what's the point in playing those meaningless last 2 games? You're going to the play off anyways might as well stay healthy so you can shine when it matters most.
If you think opt-outs and meaningless games are bad now, just wait. It's going to get way worse the next few years.