If the whole point of the CFP 12-team format is to open up the playoffs to give more teams a post-season second chance, then let's just open it up even more since there are about 14-16 teams that can all make some kind of claim to get in. It does appear that the number of late-season upsets are lacking this year (kind of an exception) but I think CFP expansion will eliminate all this craziness of jawboning and running up scores, etc. The final selection of teams is still a political, beauty pageant kind of contest. That really frustrates teams on the margin with a claim to entry when they're left out. So for example, with a 16-team playoff, the frustration and controversy is much less.
Right now, it feels like the old BCS selection process but just for more teams in the mix. Expanding the field will help relieve the selection process pressure. And so again, for example, the only teams bickering this year would be the much less-talented 2- and 3-loss teams down at the 14 to 16 spots. So this year, Texas, VA, Vanderbilt, and Utah. Much less drama down there.
You just won't have the first round byes and how do they deal with the lack of a playoff game for ND? But really, how many at large teams (Miami, Ole Miss this year, for example) with no CC game will be in play every year anyway? That issue gets increasingly muted anyway. As has been speculated, I would say let's go to super conferences where ND is just included in one of them, even if they're still independent, and they just start playing.
What does a CC game and victory buy anyway? You play the extra CC game and you many not even get a first round bye anyway. The rivalry games like OSU/MI, TX/OK, and USC/ND are more important than a CC game. There seems to be a better format and path to CFP out there.