The lower-level bowls don’t actually lead to a possible path to a championship like making the playoffs in the pros does. It’s just an excuse to play another game, hopefully against a team that is evenly matched. But yes, a .500 team from a power 5 conference will almost always get to go ta a bowl somewhere
The main benefit for the team is they get another 3-4 weeks of practice and development, plus they get to have a mini-vacation in conjunction with the game. (The host locations usually treat the players well.)
San Diego State off to a slow start 2-3. Not one of their best offenses. But they will probably finish 6-5 or 7-4 and go to the bowl game in San Diego, now that Oregon State and UCLA are out of the way. finish at 500 or better get a bowl game.