What's ultimately unfair about college football is that the caste system precludes anybody outside of the P5 from ever building programs to compete for the NC. The argument that Cincy doesn't play the competition that those in the SEC do week in a week out is just about irrefutable. Moreover, they can never schedule like that given that they are precluded from joining and competing in those conferences. Those facts then limit their ability to recruit the talent they would need to compete at that level. College football, now more than ever, is a restricted club. There really isn't much that is fair about it.
As a big college football fan I find myself caring less and less about it. If the P5 breakoff from the NCAA and turn into a semi-pro feeder league I will probably watch all my football on Sundays. At least there its a level playing field and I can watch the best football in the world.