I prefer the bowl system in college football to a playoff, but I have to play devil's advocate with one of ACamp's repeated points... he loves to point out that the Cardinals and the Steelers had mediocre regular seasons last year but went on to win their respective championships, and he finds fault with this.
Well, let's take the most ludicrous possible playoff scenario of all: a 16-seed winning the NCAA tourney. ACamp would probably have a heart attack if this happened.

But look at what that 16-seed would have to do in order to win it all. They'd most-likely have to beat the #1, #8, #4 and #2 teams in their own bracket, then defeat a team that won their bracket, then defeat one last team that not only won their bracket but also defeated another team that won their bracket.
Whew!
That's difficult to do, and only a damn good team can pull that off. No amount of luck will get you through a 6-game stretch of that difficulty.
Last year's 83-78 Cardinals team had to beat 88-74 San Diego, the 97-65 New York Mets, and the 95-67 Detroit Tigers, and they had to beat them all 4 times each. That's not easy.
Last year's Steelers were the bottom-seed in the playoffs, sure, but they were 11-5, tied for the lead in their division, and had a better record than division-winning 10-6 New England. Division winners Cincinnati, Chicago and Tampa Bay and wild-card Carolina also all had 11-5 records. So the Steelers weren't exactly chopped-liver surrounded by a filet mignon spread. The Steelers than went on to defeat the 11-5 Bengals in Cincinnati, the league-best 14-2 Colts in Indianapolis, the 13-3 Broncos in Denver, and then the 13-3 Seattle Seahawks in the Super Bowl. That's also not easy.
Again, I prefer the bowl system for college football. But I can't really agree that a playoff is "bad" per se just because a bottom-seed with a lackluster regular season can win it all. They still have to perform in the end. They still have to win. They still have to do something to earn it. Nothing gets handed to them.
I think I could get behind a 4-team playoff. And fuck conference championships. Louisville and Wake Forest won their conferences this year, but Michigan and LSU didn't. Big whoop. Does anyone here think that Michigan or LSU wouldn't mop the floor with those two "conference champions"?