That part is true. The conference championships are trying to stay relevant in this new era of CFP, but the fact is, now that we have expanded the field to 12, the conference championships aren’t worth much for strong conferences.
I would make it so that there is in essence an intra-conference playoff game.
Take the top four seeds in the conference. #4 plays at #1 and #3 plays at #2, the two winners are the conference representatives to the playoffs.
If you are out of the top four of your conference, too bad.
Tom Osborne was dead set against them as you could have two top teams put in a situation where a conference championship ruins the chance for one of them to compete for the national championship.