You are correct
Especially since they are likely to build a schedule so dumb that there will be 4-5 teams tied with no natural tiebreakers
So they may as well just take the two biggest helmet schools and match them up the maximize dollars
Another aspect which I doubt we will ever know is
if and how much more TV/Streaming partners bid on a Top 2 Division-less format vs Status Quo East/West or even realignment.
If the primary goal is to ensure the best team gets the BCS Bid/Bye as well as the best chance for a competitive Title game, I tend to think Top 2 is the way to go. Saying that, I am not sure it outweighs other potential negative impacts.
For example this year there are still 7 Big 10 teams in contention to make it to Indy with 2 weeks left in the regular season. Ohio St and Michigan in the East, as well as Iowa, Purdue, Illinois, Minnesota and Wisconsin. Including the Badgers is kind, as they need the most help. Half of the conference is still playing meaningful football. At least 4 will still be in it Thanksgiving weekend, maybe more.
If it were Top 2 with the schedule being the same, it would already be decided. Ohio St vs Michigan. No other games would matter. Zero.
Even the OSU/Mich game would be moot. If both lost this weekend, the best Penn St could do is tie, and would lose head-to-head tiebreakers with either. All the West teams already have 3 losses. So they could not be in the Top 2.
So, does shifting the focus on the Big 10 Championship outweigh making these last 2 weeks meaningless? I have to think the execs at FOX, NBC and CBS have thought about it, but maybe not.
It's also possible in a bigger Big 10, this year's situation becomes less likely. There would be a solid chance that a 1 loss USC team could be lurking for a bid meaning the loser of OSU/Mich would lose out on a Big 10 Championship berth.
Maybe this whole 12 Team BCS Playoff will work out, but I am quite skeptical about the downstream ramifications. Like it or not, through the looking glass the sport shall go.