Whatever the algorithm, it creates incentives. And the more transparent the algorithm, the stronger and more obvious those incentives are.

For a long time, the incentive was fewer losses than anyone else. So programs scheduled garbage OOC instead of risking any loss. Now the committee barely dings teams for losses to good teams (so much so that "quality loss" has become a near-joke)... which means it's much better to schedule a game against Oregon than against Toledo.

Lose to Oregon and it doesn't hurt you, win and it's a major feather in the cap. Whereas a loss to Toledo is devastating and a win is meaningless.

So teams are more willing to take on a challenge...without which we probably don't have the same level of consolidation of top teams in the top two conferences