Fun experiment, but it bums me there's such a huge gap between the top few teams and everyone else. Not sure that's happening in college basketball which helps make March Madness fun. Until the talent is ending up on some different rosters, we could have 4 team - or 64 team Playoff - it's going to be many of the same faces year after year. It ironically strengthens the case for a BCS style championship.
I think we will all look back one day and admit that 1998-2013 was probably the best era of college football. You got to award a championship, but at the same time multiple teams each year still had a claim of being 'elite' or whatever. Bowl games mattered because you weren't vying for being 'playoff team', there were very few opt-outs. The money was big but not too big.
I think we can make the claim that Alabama and Saban were the catalyst for the ruination of it all. From salary to the debacle of the 2011 BCS. That's what did it in. I don't care what people say about the 'best' teams, if we had seen LSU vs. Oklahoma State in 2011, the 4-team playoff might have never happened. The 'best' teams aren't the ones who always play for championships, it's the ones who win on the field.
It's been downhill ever since then. And the only way to have a chance to bring it back is to sell hope, and that's what an expanded playoff does.