UC Davis Athletics Joining Mountain West - Football to Follow
They are basically irrelevant - however, they can serve as building blocks for programs looking to boost up their image (see Penn State win at Yankee Stadium, or maybe Michigan outcome vs. Texas) or at least give their alumni one last hurrah for the year. The only downside being that most of the star players do not play if they're declaring for the draft - or the Portal...so the rate of return on the game is somewhat diminished.
Me personally however, I've found most of the bowl games to be entertaining, my Dad and I were invested watching the New Mexico vs. Minnesota game - Eck had those Lobos flying around the field, but the play by the Gophers to seal the win was phenomenal, we were yelling out loud "Did he catch that? Whoa! What a play, what the hell was that safety doing over the top?"
Still entertaining, that's my two cents...it's also a chance for players-to-be in the program to come out and shine when the declaring players aren't in there.