No. It's the oldest bowl game (and sometimes called "the
granddaddy of them all"), but it's just another bowl game. The Rose
Bowl is also the name of the stadium in Pasadena, California, that
hosts the Rose Bowl game.
Traditionally, the Rose Bowl game matched the champions of the
Big Ten conference and the Pacific Ten conference, but since the
onset of the Bowl Championship Series (BCS), that is no longer
necessarily the case. The BCS rotates the national championship
game among four stadiums -- the Rose Bowl, the Fiesta Bowl, the
Orange Bowl, and the Sugar Bowl. Each year, there is a bowl game at
each of those locations, plus there is an additional game held at
one of those locations. The Rose Bowl therefore hosts the national
championship game every fourth year (as well as the Rose Bowl game
itself every year).