But it does seem like eliminating conference championship games would be necessary to make it work.

Ideally it would work like this:

-Teams seeded #1-16
-Higher seed gets home game for first two rounds
-Semifinals rotate among Orange, Peach, Sugar, Cotton & Fiesta Bowls
-Rose Bowl is the championship game every year
-CFP Championship Game is played on the third Saturday in January
(No more random Monday night title games. CFB deserves its equivalent on Super Bowl Sunday)

I could be persuaded by the argument that the Top 4 or 5 conference champions deserve at least one home game, but I'd have to see the structure. With such big conferences the value of a regular season conference championship may not be all that high if schedules continue to be so imbalanced.