I propose 5+1.
5 Conference Champions.
Play In between the best Power 5 at-large vs the best non-Power 5 team.
Top two seeds get a bye.
So you’d have: Clemson, Georgia, Ohio State, Oklahoma, USC, and the winner of Alabama-UCF.
I like the idea of a bye so it provides incentive for teams to win even if winning their conference is a foregone conclusion.
What I also like is now a team that doesn’t play in a Conference Championship game, has to play an extra game to make the tournament.
I see no justification for any two loss teams being in it.