This bowl season the B1G will send eight teams bowling, while both the SEC and ACC send 11 teams to bowls. In addition the B1G has missed the playoffs for the third straight time. That extra conference game results in an average of 0.5 more losses. For average teams that extra 0.5 loss plays a big role in making a bowl game or not. One can also argue that B1G teams are more beat up by playing that extra conference game.
There is an argument that the nine conference games brings in extra money for the conference. I do not know the actual money difference between having one extra conference game vs a non conference game, but I would doubt it would outweigh the financial loss of the missing the CFP and three bowl games.
In summary the nine conference game schedule is hurting the B1G chances in the CFP and in sending teams to bowl games. There is an argument that it generates extra money for the B1G, but IMO when the money lost due to missed bowl games and CFP appearances in included, it costs the B1G financially also. The nine conference game schedule hurts the conferences finances and its prestige. It is pure stupidity by the conference higher ups and must end.