Cool idea, but as stated above, would never fly in it’s current form.
Change the name to “Hard Luck Bowl” or something of that nature.
Play up the concept of winning the draft pick based on hard work preparing for and playing in that last game.
Unfortunately, all those guys are out picking up 19 year old girls and spending their money since they didn’t make the play-offs.
Good luck setting it up. It might be one of the few professional football events I would ever watch.