The bowl selection system is screwed up and this article does a good job of pointing out why. There is no reason the major bowls do not have better matchups than they do.
because of the desire of conferences to “protect” their championship game losers.
I'm not sure what this bold part means.
Florida never seems to pay for the Sugar Bowl. In 2009, we were able to get Sugar Bowl tickets at face value early in the season, figuring that if Bama ended up there we would have a N.O. trip, and (even better) if Florida was there it would be Tebow's last game as a Gator. Well, we ended up having to sell at a discount to Florida fans, perhaps disillusioned by Tebow's tears.
Most bowls want to invite teams that bring good attendance to their cities, or at least good TV ratings. (So sometimes a team like Bama might get picked over a Mississippi State during those dark years.) But the confines of the bowl system, including trying to let the little guy play, does limit choices, especially in BCS bowls.