There has been a true Division 1 National Champion for football. You don't become a champion of a sport via an election; you do it on the field/court/ice. Until the NCAA learns this, there will never be a Division 1 National Champion for football.
I’m no fan of the current system, but you have to understand the inherent flaws in any system in which you’ve got dozens of teams competing for the same title. You’ll always have major differences in strength of schedules, strength of individual conferences, etc. that will come into play in any system — including a playoff format for a national championship.