While it is easy to criticize Pitt, it is not really fair to exclude them from a playoff after it won the ACC title. Had the name "Clemson" replaced the name "Pitt" with the identical season results, few would have clamored to keep the ACC champ out. Ranking conferences seems common sense, but it also reeks of the same biases that kept Penn State out of title shots in the past.
As someone stated above, the most sensible system is to adopt what other sports in the NCAA use: win your conference, you're in the playoffs.
There are 10 conferences in FBS:
ACC, SEC, BIG TEN, PAC-12, BIG XII, CUSA, AAC, SUN BELT, MAC, MT. WEST. The independents need to join a league if they want to make the playoffs.
One possibility is to take the champ of the Power 5 + the champs of 3 the other 5 based opt criteria that might include past bowl performance, success versus Power 5 teams, or factors that folks much smarter than I can determine to eliminate 2 conference champs.
Or perhaps add a 6th league to make a Power 6 and then have the other 4 champs meet in a "play in" game to get to the 8.
Midnighter has made a strong case, IMO, for only conference champs in a playoff. What good did it do Penn State to win the Big Ten only to be excluded? What did Alabama gain by beating GA for the SEC title the 1st time, only to have to play a rematch in a playoff?
The argument that "the best 4 teams" should be in the playoff is a weak one. Opinions of telecasters or writers or fans are irrelevant. Otherwise, whichever of the 4 Big Dogs (Alabama, Georgia, Ohio State, Clemson) returns the most starters every year can just be crowned by the media as NC. Heck. most media and fans cannot determine who the best QB or RB is much less which team is the best in the country.
I think allowing Cincinnati in this year was terrific. Sure, they got dominated by Alabama, but then how many Power 5 champs have been trounced by other champs (such as Michigan, Michigan State, and the Almighty Buckeyes). Cincy beat Notre Dame, a frequent playoff contender and consistent loser in playoff games. Yet next year, the Irish will once again be talked about as "deserving" an invite if their record is 11-1 or 10-2.
Not fair. If ND wants in, then it must join a conference and win its title first. Just as Cincinnati did.
Now what if - likely when -- the Power 5/6 trounce the champs of the other 3/4? Same thing that has happened when the Big Ten, Big XII, or PACX-12 champ has been trounced. Fans say "Told you so" and the playoff moves smoothly to Round 2. But no more can teams not even win their division and still make the playoffs, more rested and healthier than the poor suckers who had to slug through a league title game,.