I'm just basing my opinion on the way it's currently set up. There's only four spots. There's nothing guaranteeing a conference winner a spot. And why would you? Hypothetically, a 7-5 team could win their conference. Think Wisconsin 2012. There's five power conferences and then there's those that are mid-majors and independents. Somebody has to be left out. It can't be automatic.
My long standing position was that I was against a playoff. I felt that the bowl system put such importance on the regular season that a playoff system would diminish what was great about college football. I realize that others felt differently. Things changed and we got a BCS championship that pitted #1 & #2. That wasn't perfect, as the Big Ten and Pac Ten opted not to participate. A second version of the BCS added the Big Ten and Pac 12. The bowl games started to lose their relevancy. Finally, a four-game playoff was created to replace the BCS CG. Now, that the traditions have been ruined I feel it's time to expand the playoffs to 8 teams. If we're going to do it we may as well do it right. I think that 16 is way too many teams. Eight is a lot, too. However, with 8 you could automatically guarantee a playoff spot to the P5 conference winners and teams like Penn State would not be left out. I personally don't care about the bowls any more. There is no meaningful matchups outside the playoff games, IMO. I think that games outside the championship game should be played at the home of the higher ranked team.