But I can also say that there is a serious misappropriation problem when the BCS hands out millions of dollars of football money to schools that can't prove it on the field.
Generally speaking, the BCS only rewards teams that do prove it on the field. Aside from Notre Dame, when was the last time a 4- or 5-loss team made the BCS?
...just imagine what could have been accomplished with the guaranteed BCS money coming in every year...
And imagine what USC, Ohio State, Texas, or Florida could accomplish if that money was guaranteed to them every year. But here's the part you didn't mention; it isn't guaranteed. Every single team that gets into the BCS in a given year has to earn it. You don't get an invitation for next year unless you earn it next year.
BSU has had a great run recently, and they were rewarded with two BCS appearances. Yes, six conferences are tied in, but the berths in those games still must be earned. Ask Baylor, Northwestern, Vanderbilt, and South Carolina how many BCS games they've been invited to play.