agreed with this entirely. lots of people "think" that osu and oregon may be the best two teams this year but there's just not many data points to draw that conclusion from in making the argument. everybody who was crowing after Indy lost that it was then clear the SEC was the superior conference got real quiet after Tenn got obliterated in Columbus. And the prior CFP results support that we are really bad at evaluating conference strength (specific team strength is easier, but still filled with fallacies when you're comparing say the #2 in the B10 versus the #1 in any other conference).
I'm really torn with how you come up with the top four that get the byes. How about something like this.
Top three conference champions get a bye and highest rated non-conference champ if the top four ranked teams aren't all from different conferences. This eliminates some human error by guaranteeing at least three conference champs get byes, but also minimizes giving too many undeserving teams from weaker conferences byes (both Boise St and AZ State this year).
Here is how it would have looked this year:
1 Oregon (conf champ - CFP rank #1)
2 Georgia (conf champ - CFP rank #2)
3 Texas (highest ranked non-conf champ - CFP rank #3)
4 Boise St (conf champ - CFP rank #9)
Most teams below fall just one spot in seed from their CFP ranking because AZ State falls from 4 seed to 11 seed. This is better than falling two spots in seeding as they did this year:
5 Penn State (CFP rank #4)
6 Notre Dame (CFP rank #5)
7 Ohio St (CFP rank #6)
8 Tennessee (CFP rank #7)
9 Indiana (CFP rank #8)
10 SMU (CFP rank #10)
11 AZ State (conf champ - CFP rank #12)
12 Clemson (conf champ - CFP rank #16)
Quarterfinal Matchups:
1 Oregon vs. 8 Tennessee/9 Indiana
2 Georgia vs. 7 Ohio St/10 SMU
3 Texas vs. 6 Notre Dame/11 AZ State
4 Boise St vs. 5 Penn State/12 Clemson
Instead of four first round matchups that are mismatches, we likely only get three with Tennessee playing Indiana. Based on the results from this past weekend, that might have been a more evenly matched game. Oregon gets rewarded with a much more manageable quarterfinal game. We still likely end up with a Boise St vs. Penn State game in the quarterfinals, but with Boise State as the more justifiable fourth seed instead of their current three seed.
Oddly enough and with Beck being lost by Georgia to injury, this scenario would likely end up with three B1G teams in the semi-finals along with the winner of the Texas/Notre Dame game.