Yep. I get the want to have an actual 'champion' but the field is way too small. 8 teams would be much better. 5 Power Five champion teams and 3 at-large bids would be better than the current system. Still not perfect, but better.
Eight would be better, but I do not think this format is best. I say that because I feel that even the champion of one of these Power 5 conferences are not better than up to 4 from other conferences. In most cases, the champion should be invited but not all. If USC goes undefeated in the PAC 12, invite them. But, seriously consider who is best, a champion of a conference who lost 2 games in conference or a Georgia or Auburn with 2 losses to the likes of LSU, Bama, and Florida. That is a tough decision to make and either choice has plenty of criticism. It is not fair for schools like LSU, Bama, Michigan, OSU, Clemson, and FSU to be written out of contention because they lost one game to a school that has been listed already. It is also unfair to exclude an undefeated in conference Oregon.
The best option was no champion, as it was for a very long time. But, that is not the American way...there must be a champion!! If you win your conference, you are automatically placed in a bowl against either an at-large or another conference champion. No one wins 1st place, because we honestly do not know what could have been due to the complications of only having 4 finalists presents.