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Those people would rather just sell a block of nonstop commercials if they could get viewers to tune in. The reason there are discussions around shortening the game is because it's been jammed too full of commercials and takes too long, so people are no longer watching as much. A quick google search suggests commercials take up about an hour of a 3.5 hour broadcast for an NFL game, and I'd bet the numbers are similar for college. That is excessive.
It's a balance. Too many commercials drive away viewers, making the product less valuable to advertisers. Again, I am betting some really smart people have figured out the best financial balance and that's what we are getting.