The more I think about it the more I am in favor of getting rid of the conference tournaments or reducing their impact on the post season tournaments.
Lets be real here. The conference tournaments mean basically nothing for the power5 teams. The selection committee already knows 95% of the power teams that will get in before the conference tournament and barring an extreme run like Uconn in 2011 it won't change the comittee's thoughts on which power5 teams are in the ncaa tournament. The only thing it may effect is the seeding.
Then we get everyone else. In the MVC, the regular season conference champ has had a 38% chance of winning the conference tournament over the past 20 seasons. So more likely than not, unless the regular season champ has a great non-conference performance, the MVC is one bid league and the conference champ is left out of the ncaa tournament just like this year. Either way more often than not the best team in the league all year misses the tournament because of the conference tournament. This leads to fewer expected wins from the mid-major/low-major teams in the ncaa tournament since their best conference team is missing.
To me it makes more sense for the regular season champion to get the auto-bid. However, that makes the conference tournament meaningless and the regular season champ wouldn't participate most likely. So yeah. I don't know what the solution is here, but the current system just isn't great. Mid major conferences also have the ability to get two teams if they have a team with an at-large resume and that team doesn't get the auto-bid.
If the NCAA included all teams in the tournament, they wouldn’t have to pay all of the teams. They could start paying the final 68 teams or whatever. However, this is nothing but a pipe dream. In addition, if conferences such as the MVC, make money on their post season tournaments, there is no way they’d give up the cash cow, to enable all conference member schools to be in the Big Dance. In my opinion the NCAA only cares about revenue. If they really cared about the so called “student athlete”, I prefer to call them a student employee, they would let them hire an agent, enter a professional draft and if they don’t get drafted, enable them to return to their college, finish their education and let them play.