I agree. Every conference needs bottom feeders. NOBODY would tune in for a 4-7 TAMU vs 6-5 Alabama. Fans of those teams are not used to those type of win-loss records and would be checked out of the season way before that. People tune in for ranked teams, ranked match ups, undefeated teams, and rivalries. Networks know it and conferences know it. They need the Vanderbilts and Rutgers of the world to make the top teams in those conferences look strong and drive viewership.
Many here state this concept, but I have to strongly disagree this will prevent a premier league from happening.
The NFL has LOTS of crappy teams with crappy records, and no one is looking to get out and it isn't killing ratings. Middle teams are facing off to make the playoffs, and that generates interest even if they aren't undefeated. A 20 team premier league can easily fill the 6-7 prime tv slots weekly, even if it has a couple stinker matchups every week.
What SHOULD prevent a premier league from happening is that a great number of viewers not tied to the premier teams will not watch - you eliminate half your audience. BUT tv/media folks may underestimate that, or may think they can overcome it in time, in their greed and desire to build a second NFL-like product.
Don't underestimate the stupidity and greed of the media powers that be, and the university personnel that are both afraid to be left behind and completely arrogant at the same time.