The thing is, without a real playoff, one loss can pretty much doom a team from consideration for a National Championship. Now it can be said at least CFB probably is the best for rewarding a team for their overall season, instead of the team that got hot at the right time winning the Championship.
Look at what happened with the recent College World Series with Ole Miss winning it, the perfect example of a team that had a mediocre season who got hot at the right time. Do we want that also in College Football?
With any playoff you’re going to have the issue of a team just getting hot at the right time that might not have had as good of a season as some others to that point. That’s unavoidable. At least with a playoff its decided on the field rather than by a bunch of biased, lazy sportswriters. No speculation is necessary. We know how teams would do because they have to actually do it. I remember the utter travesty that was BYU 1984. Never again.