Then why even have conferences? if being champion means nothing, concerning making the cfp. imo, 8 is about right, P5 champs auto bid, 3 for those "great" teams that the committee can banter about. Most years you probably end up with 1-2 teams that maybe shouldn't be there, but that's better than possibly having 1-2 that don't get a shot due to "politics", but should.
Last year, 4 teams was fine (although I still believe Stanford prolly should have been in), as it was pretty clear AL and Clemson were the best 2.
This year? 8 would have been great. You still get the drama that everyone loves so much with who gets 6,7,8 spot. committee can chew on that brain teaser and be all "torn"