I agree that for the most part yes, they did make the right picks based on the information that was available to them. My idea is that they didn't have enough information to base their decisions on. When it comes to comparing the best teams in the B1G you are doing so based on schedules that can be completely incomparable. If each team played more games in conference, then everyone would be playing more similar schedules that are made up of more of the same teams, and would then be easier to compare and provide more proof about who is better.
My issue isn't with the number of bowl games either. Of course if you add more bowl games they will be played by mediocre to bad teams. This year even the top bowl games were all terrible. Plus with my idea of playing a week 13 you give 5 win teams a chance to earn a 6th win against a team that in theory they should be very evenly matched with.