05_never_again
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You hit on a problem in your last paragraph. Why are teams ranked going in to the season. It sets a bias which affects the whole enchilada.
Let's say you did away with preseason rankings. Not sure how you do that since the AP or whatever polling service can do whatever they want, but whatever.
When the playoff committee starts ranking teams midway through the season, what is to prevent them from still having a "higher opinion" about big name teams that are undefeated but haven't played anybody yet? That implicit bias towards the "brand name" teams is always going to be there no matter when the polls start. Brand name teams or teams with a history of recent success are going to get benefits of the doubt.