It was shortsighted to go with a four team playoff in a system with five "power" conferences. I get why they did it, but the controversy we've had since (and today) was foreseeable.
Then they moved the bar from year to year. Conference championship counts; not having a conference championship game counts; now it counts, but not all that much; body of work and schedule strength more important; etc, etc.
And a non-Power 5 team has virtually no chance of ever seeing a CFP berth. The SEC Champ and and the Big10 "darlings" would have to be 10-3 for there to even be a chance.
Just go with 8 teams. All P5 champs, plus 3 at-large teams. Use the old BCS system to pick the at-large teams, and set the seedings for all 8. No system can account for all of the variables and be truly "fair", but that's about as good as it can get.
Or cut the regular season back to 11 games, plus a conference championship, and then go with a 4 + 8 format, similar to what FCS does. Bottom 8 play 1st round, then seed the bracket and play an 8 team playoff. Allows more than one team from a given conference; gives non-P5 schools a realistic chance; and all but guarantees that you've included the best 8 teams out there. Yes, could be as many as 16 games for two teams, but we're already at 15 for those same two teams. Would you not trade one more game to get 8 more teams? I'll bet the teams would.
Go Vols.