By giving the “top two teams” a bye week you’re just perpetuating the beauty contest. 8 teams (5 P5 champions and 3 at-large)=4 games, 4 winners = 2 semi-final games, 2 winners = championship game.
Lottery style drawing to determine the pairings for all games. No home games, no regional “home games” (i.e. Alabama playing in Georgia dome)
The “Beauty Contest” aspect is good for college football, because it gets people talking about it. It’s what sets it apart from the other sports. You want to limit the number of games, because of the possibility of injuries, and you’d want a weaker conference champion, like from the Pac-12 to have to work a lot harder to get the title, than the SEC Champion.
Now what I would like to see, is tougher schedules for all the teams in order to get a better gauge of who the best teams are. I proposed having two randomly-chosen outside-conference opponents of relatively equal strength, to replace the usual cream puff games teams play.