When you are talking 130+ teams in Division I, I don’t know of a better way to do it. It certainly is better than what we had before. And if you lose 2-3 games, you really don’t have anything to complain about if you don’t get in.
The old way was better. Win your conference, host a tough team in a bowl. No “National Champion”.
This silly non-national champion concept was pushed by Obama. Barky Obama pushed for a college football playoff system and took credit for it when the Ohio State Buckeyes won the first College Football Playoff in 2015: