I think your last statement is true, but in reverse, and twisted around a little. If the people doing the voting are not doing so in good faith, college football polls are not considered important. I see no reason at all for coach of XYZ football team to care about Jerk State University's football team, when they aren't in the same conference, they don't play each other, and none of XYZ's opponents play Jerk State, and none of XYZ's opponents play any of Jerk State's opponents. XYZ's head coach should be worried about XYZ - not about whether Jerk State should be 5th or 4th or 2nd or 18th, and definitely not about whether Boob Tech's head coach of 20 years is retiring. That is why I dislike the coaches' poll.
And I'm not interested in the "we were number 1 going into the bowl games, we won our bowl game, so we should remain number 1" argument. What other arguments does Michigan have? I definitely agree that Penn State's argument from 1994 is much funnier. "We should leave this suck-ass conference! They didn't back us up in 1994, or in 2010. Let's join the Big East!!" But I've heard Michigan fans still hate Nebraska. Their Alamo Bowl game (another classic ending to a Michigan game in there) was supposed to be redemption for 1997. "We only lost our #1 spot because Tom Osbourne was retiring." If that's true, then I go back to my "I don't like the coaches' poll" thing. But I think there is a legitimate argument for Nebraska jumping Michigan. And if Michigan only won the AP national championship simply because they were #1 going into the bowl games, then the polls are stupid.