How did the CFP trivialize bowl games? There used to be 1 championship bowl game, maybe 2. Now there are 3. The other games never meant anything but pride.
The argument for the CFP was making sure we crowned the best team. It has obviously accomplished its purpose. Now we're blaming the system for things that have nothing to do with it.
The top teams are so consistently good because of great coaches, money and improved efficiency in recruiting. Kids are opting out of bowls because they are more self-focused, for better and worse. These things were in motion well before any playoff.
College football is better than every sport because it has the best regular season. It's not bands, it's not student section chants. It's the importance of every game. This proposal kills that dead for 4 weeks of entertainment and a ton of blowouts. It's a bad and short-sighted idea.