re: New Mexico to get $1.6 Million to play LSU

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and playing non-SEC teams is a complete waste of time.

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among other things, there's still a limited amount of playoff spots, and you do have to pick those teams.

If SEC doesn't play others, you don't get a true evaluation of comparable level of play.

For example-
UGA/Oregon; top tier SEC vs upper/top tier Pac 12. Complete wipeout in favor of SEC.

Fla/Utah; mid-tier SEC vs top tier Pac 12. Very evenly matched, Fla wins at home.

Ark/Cincinnati; mid-tier SEC vs top tier AAC (got a playoff berth last year). Even matchup, Ark wins at home.

LSU/Fla State; mid-tier for both SEC,ACC. Evenly matched, 1 point win for Fla State. LSU made opening day mistakes and Fla State got theirs out of the way a week earlier against a cupcake.

Auburn/Penn State- mid-tier SEC vs upper tier Big 10. Blowout for Penn State.

What we see here, is that Pac 12 can't compete with SEC. Their top tier is in a dogfight with our mid-tier. 2 teams with similar records, you choose SEC. Same thing with AAC, shows they can only get a playoff berth due to (inflated) record.
Other hand, you do see ACC and Big 10 play at comparable levels overall to SEC, the mid-tier teams match up, and the top teams will smoke the mid tiers.

I bring all this up, because prior to the BCS, it was just a popularity contest to see who was ranked #1. SEC often lost in the polls, because the games were never on the field.

You want to avoid that happening with playoff spots. A 10-2 SEC team should get the nod over an 11-1 Pac 12 or AAC team. They will, as long as teams play and you can see the difference; they probably won't if they never face off.