AKA Senator Orrin Hatch is an idiot
No, the BCS doesn’t create the disadvantages; it merely amplifies them. The BCS isn’t the reason San Diego State can’t get a stadium lease signed and it isn’t the cause as to why the WAC doesn’t have the same TV contract the SEC does. In college football, the money flows where the attention goes.
If we want actual "fairness" in the upper division of college football, schedules need to be relatively even which means that the number of teams need to be reduced from the current 119 or 120 to something like 30-40 with everyone in equal-number divisions playing round-robin conference schedules. Even then a playoff built around single-elimination games would still be a tragic mess (take a lesson from every other playoff that isn't the NFL's or lower-division football, go to at least double elimination, better yet best of three between teams).
Of course nobody actually wants that to happen because that'd be the end of the bulk of teams in first division football and would end college football as we know it, which by the way has never been more popular in spite of all this hand wringing about the BCS.
Come on people, think about the issues for once and just enjoy the show, college football is wildly unique and enjoyable. In the end I think in most of our hearts we don't want true finality, as my friend Heisman Pundit's said many times the game is like a never-ending Constitutional Convention. Its the back and forth and discussion that has such great appeal in addition to the product on the field.