To answer your question, I'd rather get soundly beaten by OSU and net $1M revenue at 1pm on Saturday and have the opportunity to visit the horseshoe rather than lose to Toledo, get 100K revenue, visit the Glass Bowl, and kickoff at 9PM Friday night.
Chicken and egg. You need to win to get good players. You need good players to win.
Winning a bunch helps attract talent. Going to meaningful bowl games attracts talent. Upsetting ranked teams attracts talent. Keeping ticket holders happy provides money used to build facilities and pay coaches, which attracts talent. Playing on nationally televised games during prime time matters, too.
If CU only scheduled cupcakes during the OOC, our games would be relegated to regional networks, perhaps some outlet like the MTN, with bush league announcers and no HD. Kickoff might be at 11AM or 8PM. Or maybe it's not broadcast at all.
Lets say option 1 is an ABC schedule, where A= Nebraska, B= CSU and C=Central Arkansas.
Option 2 is CBC, where C1=Sacramento State, B=CSU, C2=Central Arkansas.
Which option do you think will sell more tickets and bring in more network revenue?
Folsom can be a pretty dull place when New Mexico State comes to town for a game only broadcast on KOA. It can rock when West Virginia plays a blackout game on ESPN.