Yep, this is pretty much the case. Scenarios that hace had split titles and even those that didn't wouldn't happen these days.
- 1994 had undefeated Nebraska and Penn State
- 1997 had undefeated Nebraska and Michigan
- 2004 had undefeated Auburn and USC
If the CFP exists, those scenarios don't happen. The only feasible way for a split national championship to happen these days is if all Power 5 conference champions were undefeated and one of them won the CFP and the other won another NY6 Bowl.
I think the fact that that's a possiblity, though, means the playoff needs to be expanded. I've thought eight teams would work out the best. Get the top eight teams in the country. Conference championship doens't have to be automatic since an upset could happen in a title game, but winning the conference can improve chances at a better seeding.
I'd also want a slot open for a high ranked Group of Five team. The following all went undefeated and never had a shot at a title. (*Didn't win the bowl game)
- 1998 Tulane
- 1999 Marshall
- 2004 Utah
- 2006 Boise State
- 2007 Hawaii*
- 2008 Utah
- 2009 Boise State
- 2010 TCU
- 2016 Western Michigan*
- 2017 UCF
- 2018 UCF*
Yes the strength of schedule is weaker, but something about telling a team they automatically won't even get the
opportunity to compete for a title doesn't sit right with me. I know some said Houston could have made it had they gone undefeated in 2016, but I still doubt they could have leapfrogged Ohio State or Penn State.
If the Group of 5 can't be included, it's basically another division of college football, except it's one that can't play for a championship.