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I don't think it's crap to have a system designed to protect the conference championship games -- if you would be in but for playing and losing that game then there are incentives for the conference to manipulate the game and wink wink nod nod the favorite into losing or otherwise bring the game into disrepute.

Sure, the existing system incentivizes a team like Alabama to sit its starters as they can lose and make it in anyway, but that's a different beast with sufficient precedent to not really implicate corruption.

nevertheless, it would be better for the conference championships to be rolled into the playoffs, such as a requirement that CFP entrants have participated in a postseason "tournament" of some kind which includes conference championship games and "invitational" games, or any other conference arrangements over a two-week period. Then re-rank and use the existing system.

Stronger/larger conferences (SEC/B1G) could just pair up their 3v6 and 4v5. Weaker/medium conferences (B12/ACC) could just pair up their 3v4, and G5s could coordinate to make their conference champions face off the following week. Anyone not invited to those would be eligible to be invited to a "Independence bowl game" (which would "draft" the best remaining teams, generally pitting the best of Independents, SEC/B1G#7, and B12/ACC#5) and a "best of the rest" 4-team tournament.

The important thing being that winning these games, aside from the 5 highest ranked conference champions, guarantees nothing, just an opportunity to prove yourself and improve your ranking/attractiveness to a traditional bowl game.