That's an interesting take, but as Cletus suggested, it's not the view of the vast majority of fans and hopefully any players.
For the program, increased exposure and visibility. For the school and conference, big bucks. For the coaches, a valuable round of extra practice. For the players, a reward and some fun. For fans and players, a chance to end the season on an upbeat note with a win in a hopefully interesting intersectional match-up. For me as a fan, it's always a bummer when the season comes to an end, so a bowl extends it all for several weeks.
These are just a few factors that come to mind. Granted, some years some of them apply more than in other years, but still.
That said, the opt-outs, which are now a standard part of the landscape, have definitely taken some of the shine off the bowl scene. I do understand the reasoning and find it hard to begrudge a kid's decision to opt out in order to protect his future, but I think it's still a bad look for a team and a program when its players don't want to play...for whatever reason.