Actually it results in an arguably more legitimate way of determining the championship game participants. If you just base the standings on division games (and everybody plays everybody else in their own division) then the championship won't be decided based on something arbitrary like relative difficulty of cross-division games.
That said...again, this kind of thing is unlikely in a "real" conference and would be a tough sell.
It's a tough sell because 2 or 3 in-conference games are completely without value. Not sure I'd be interested in playing Georgia Tech as an exhibition game. Nothing gained or lost either nationally in reputation or in-conference.
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