comparable to March Madness play in games between 16 seeds.
And any of those low-seed conference champs that manage to win a play in "first round" game will have similarly awful records in the next round to 16 seeds in basketball.
But the bigger issue is that you're going to incur a lot of opportunity cost to have football games that are less competitive and interesting than ones that come from a little bit of curation of the matchups. Putting on a playoff football game for FBS teams is a much bigger deal than adding a few games to a basketball tournament slate.