The CFP would work perfectly fine if it expanded to 8 teams and had specified criteria for qualification. Any sport that uses an “eye-test” as qualification is a corrupt sport. No different from figure skating. Normally I wouldn’t care, but for the most part these are taxpayer funded institutions and I don’t like the idea of potential revenue being dictated by an “eye test”.
My Proposal is to have the Power Five Conference Champions automatically qualify. Then take the highest ranked non-conference champion (which would allow an independent or non-Power Five team to qualify, if they are the highest ranked non-conference champion). That’s six teams.
Then seed the teams 1-6, the top two seeds get a bye, with the 3rd seed playing the 6th seed, and the 4th seed playing the 5th seed, for the chance to play the top two seeds.