I hate that I'm agreeing with Thump, but I am. Signs of the apocalypse, etc.
This has nothing to do with OSU- They deserve another opportunity.
My opinion is that there are too damn many bowls, and that they've become like "participant" ribbons at "We don't keep score" soccer leagues.
Teams that are .500 (or under, see UCLA) shouldn't be in "prestigious" post season events. Teams that don't make that mark and don't have winning records in their conference are even further from needing to be there.
Particularly when the only people who profit (as in money) from this are the BS bowl commissions (tax exempt, some also funded by tax dollars) and the networks (particularly since ESPN owns at least seven bowl games themselves).
So, no... a team with Ohio State's record should not be "bowling".