I don't think you are fully and properly analyzing the situation. Many of us would rather have the playoffs, and are fine with some lesser games if that's what it takes to stay in the playoffs. Also, we have some fear that too much losing, i.e. too many lost games for multiple years, would cause attendance to go down (and the golden goose to be killed). For each 1,000 of lost attendance, I'd estimate lost revenue (from tickets, food/beverage, and Griz ware) of $300 times 1,000. So, $300,000 lost by UM for each 1,000 in lost attendance, plus related losses to the local businesses. Ticket loss of 5,000, would be $1.5 million. 10,000 would be $3.0 million. If conference tv revenue was so incredibly high, which I doubt, then that tv revenue could offset lost game day revenue.
I love the home games. Besides the home playoff games, I also love the extra games UM gets at home. In FBS, UM wouldn't get those extra home games.