No “bubble team” would be able to lay claim to the national championship game under the current system, so a 16 game playoff would be an improvement over the current system. Teams ranked that low are 2-3 loss teams or 1-loss teams with an easy schedule. What would be really exciting is the final weeks of the regular season, where teams would be vying for the cutoff position!
They won’t make any major changes any time soon, but there is a chance they’ll expand to four teams, which the SEC proposed a year or two back. Seeing Alabama, LSU, OSU and Stanford in a playoff would have been a great for fans this year, and for the money it would have brought in.