And that works because there's parity.
In a world where a B1G team like Indiana can make the playoffs for playing a glorified G5 schedule, there isn't enough parity for the NFL model to not screw someone over. And they would make the playoffs in the NFL model, as their division would have to be weak to yield such a schedule.
When a team that has been historically irrelevant suddenly pops into the picture, there's usually a reason, and the reason is USUALLY "they managed to sidestep a land mine that usually takes them out."
Indiana had 26 losing seasons in 29 years prior to this year. And one was a 7-6 year in 2007 that included four out of conference creampuffs and a 1-11 Purdue team for five of those 7 wins. Another year was the Covid season, when they only played eight games.
All of a sudden, the B1G expands to EIGHTEEN teams, and Indiana somehow gets a schedule that:
a) has no Penn State
b) has three OOC creampuffs, none close to a winning record
c) has four of the five worst teams in the B1G
d) gets Michigan following a staff and player turnover
e) has Ohio State
Bill Mallory had a solid program at Indiana, basically putting them at the 6-win threshold consistently with the occasional year with an opponent struggling and the "one huge upset".
Switch their schedule with ours, and even a good Indiana loses at least 4-5 games.