People confuse these rankings with college football rankings. They're not the same, nor meant to be the same.
We have a playoff system, so there really isn't a need for rankings. That's why they called "Power" Rankings and they're really just a popularity contest. I actually likes ESPN's Power Rankings. Just kinda shows how popular we are. Weather it's meant to be fun or not, it still it doesn't matter at all and I kinda think it's fun. I like ranking teams myself.
I don't think ESPN is about to start putting teams rankings next to their name on the scoreboard like they do in NCAA