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This year, that would give us 6 ACC teams, 4 B12 teams, 5 B1G teams, 6 Pac12 teams, and 7 SEC teams, for 28 bowl-eligible P5 teams. That's with G5 and FCS games contributing to the 8-game win total. If they split and play only a P5 schedule, then OOC games are as difficult as conference games, so 8 wins is equivalent to a .667 conference record. This year 3 ACC teams, 3 B12 teams, 3 B1G teams, 5 Pac teams, 4 SEC teams, or 18 total, achieved that.
So with a P5 split and your standards, we'd have 9 bowl games.
What's your point? Bowl Games used to be a reward for a great season. Now the majority are strictly made for TV exhibitions of terrible teams playing in empty stadiums. It may get to the point that ESpin has to pay people to attend some of these games so that it doesn't look so pathetic on TV.
If you want to include a few more teams then lower the threshold to 7 wins. Still far too low IMO, but the participation numbers would rise. Is asking a team to beat 3 stiffs OOC and go 4-4 in conference really that unreasonable? Who in their right mind would miss seeing a 6-7 Fresno State Team go to a bowl?