I strongly disagree with this.
Conference championships mean a lot. You spend three quarters of the season every year playing teams in your conference and watching the standings to see who's doing the best. Being able to say, "We beat out 13 other teams in our conference over the course of the entire season to become champions" means a lot more than "We beat a random team in the Cheez Whiz bowl", even if it doesn't result in a shot at the national title.
Similarly, rivalry games mean a lot. I know beating U[sic]GA isn't the be-all end-all to every Tech fan, but few would disagree that a win over U[sic]GA with no national title implications would mean a hell of a lot more than a win over a random team in a mid-tier bowl. Even a win over Clemson, FSU, or some other team we've historically played a lot means more to most people than a win in a random bowl game.
The issue with bowls is that there isn't much to give them meaning. You're usually playing a random team who you don't normally play and who you aren't geographically close to. The bowl itself is usually in a random place. While you do kind of earn your spot in a bowl, a lot of the reason you go to a given bowl depends on fanbase size, who gets picked above you, etc. -- so it's not like you can have playing in a certain bowl as a season goal like you can with the conference championship.
There's just not much there for bowls storyline-wise. It's like they exist solely for the purpose of making TV revenue during the holiday season -- which, of course, is the sole reason most of them exist.