That's what it was, last year.
Bunch of people bitched about it, now it's top seed teams, which in theory could all come from same conference (won't happen, but nothing stopping it).
That aspect has now made the conference championship completely pointless.
It used to be a very important thing. Winning the Big Ten was the main achievement of the season, and then it mean you got to go to the Rose Bowl. (Win that, and you had a good shot at being voted #1.)
Now, with 12 and will be 16 team playoffs, and with it being just the top two teams of a divisionless setup ... tough for me to ever see either team in the Big Ten championship game not going to the playoff.
Pointless to play the game at all.