I think I (and many others) are stating it wrong when we say a P5 opponent is more important to the casual fan. It is actually the casual "observer" that makes it important. Bowl games are watched by many people that don't watch much football at all during a season. Some have a team they say they cheer for, but don't follow football. Then, of course, there are just the ones that see the scores and opponents on social media. These people are important, because it ALWAYS increases name recognition. When someone sees Louisiana Tech fans posting about playing an Appalachian State or a ULL, there is absolutely nothing that stands out about that. There are even some Tech alumni and families of alumni that equate Tech to those teams by association when they see the names together in the post season. It does nothing to increase our name value. However; when they see Tech vs. North Carolina/Texas Tech/Miami/Florida State, that is the association built in their mind. I know not everyone agrees with this, but beating a 10 win G5 (especially a MAC or Belt team) is not near as impressive to many people as beating a 6 or 7 win P5 team. That is just the way it is....
I want to play a P5 - no matter what bowl. Preferably one that is drivable for most Tech fans - that means the Southern states. I HATE the Indy Bowl, but if it is a choice of playing a P5 there vs. playing the belt champion in N.O., it is hands down better nationally. New Orleans is, of course, the best city to go to a bowl, but the NO Bowl is seen as a warm up bowl for the big boys and the Sugar Bowl. LA Laff fans can bring a crowd, but it is still seen as the minors. The Indy Bowl is horrible in comparison, but you put a Miami or Florida State there and it is exponentially better to play there against one of those teams. The military schools are an exception to the P5 rule due to name recognition - so, that would be a game that would be a good option, as well.