Bullshit.
2016 CFP Rankings. 13-0 Alabama is #1. 10-3 Wisconsin is #8.
Let's say some fluke shit happens and Wisconsin beats Alabama in overtime in the first round of your hypothetical eight team playoff. You're really okay with 11-3 Wisconsin advancing to the semifinals over 13-1 Alabama? Head-to-head is important but it's not THAT important. Single elimination tournaments are awful. It makes that one game more important than the prior 26 games combined.
So much wrong here:
1. It does not make that one game worth "more than other X" because a single other regular season loss would've put Wisconsin outside the top 8. Any other loss at any point would've -- in their shoes -- equally eliminated them.
2. The entire premise is based on Alabama being a clear cut #1 that is soooooo good they shouldn't "have to" play this game against an inferior opponent and risk a "fluke" loss. There are three obvious logical fallacies in such reasoning, but the biggest overall issue is that most teams it's not "Alabama" we're talking about but rather better teams being excluded in favor of worse teams.
3. Looking at 2015, the CFP sucked specifically because "flukes" kept out the best teams. Despite losing to Texas, Oklahoma got multiple really close lucky wins against an overrated conference schedule (with their "hard" OOC game coming against 8-4 Tennessee). Iowa and MSU met in the Big Ten championship -- MSU in particular needed a hilariously "fluky" win against a superior opponent to get their, and Iowa just sucked the whole year. Those two teams were guaranteed a defacto spot because of how the CFP is set up. Both Oklahoma and MSU got embarrassed in their games because they didn't deserve to be there. Alternate universe:
1. Clemson vs Notre Dame... rematch of game that came down to a final 2 point conversion, obviously would've been better than Oklahoma getting throttled.
2. Alabama vs Ohio State... Ohio State was 11-1 and left on the outside looking in because of one "fluke" (the kind of thing you're sooooo against). By every statistical measure and on a pure talent basis, Ohio State was in the top 3 teams with Bama and Clemson that year.
3. Michigan State vs Stanford... PAC12 champ would've rolled the bad Spartans like they did Iowa.
4. Oklahoma vs Iowa... two overrated teams play, Oklahoma almost surely survives.
Three of those games are instantly better than what we saw in the CFP first round. There is no argument to be made that the current system produced better playoffs in 2015 than an 8 team playoff would've.
Similarly... in 2016, you had two more terrible semifinals. In an 8 team the Bama game is still a snoozer, but you get an Ohio State vs Michigan rematch AND a really interesting game between the Big Ten champ (PSU) and PAC12 champ (Washington) in what would traditionally be the Rose Bowl matchup.