The truth is it is a much better system than the 4-Team Playoff or the BCS 2-Team Championship. BYU has a real shot to make it this year three times (two in our control and one hoping that K-St wouldn't suck). We blew our chance this year which stinks. Should we be ranked above the 3-loss teams? Yes. But the 12-Team CFP makes is so much more possible for BYU to actually have a chance to play for a title while still being able to lose a game or two.
This won't be the last time we'll be in conference contention and the program has some real positive momentum after this season which is something no other school in Utah is even close to having currently.