What did you think you were watching? This is an entertainment product that exists in a large scale way to make money.
Poll and rankings are entertainment product to make money. Every iteration of postseason College football has been entertainment product to make money. Just because this is the most functionally pure type of competition, it really seems to confuse people.
It is not an entertainment product - it's only ballooned out to become a money-making monster.
But football could be, and once upon a time was, just another sport with anonymous players.......a women's lacrosse, if you will. And if no one came to watch them play, they'd still play, have a winner and a loser, and still keep stats.
As long as the competition side of things exists and matters and isn't lost, yes, people want to watch. But just because a sport is bastardized into a money-making cow doesn't stop this from being true.
You set up a framework in which the regular season is irrelevant and you've routinely got .500 teams being crowned champion, and you'll find the stands empty.
We're not there yet, but it's trending that way, across sports.