So, for those proposing an 8 team playoff...who would you have in that mix? Would Michigan State have been part of your selection? Their only two losses were to Ohio State and Oregon who will be playing in the national championship next week. They could wind up to be the best 2 loss team in the county and not have been selected for the 8 team playoff. My point is someone is always going to get the shaft whether it a 4 game or 8 game playoff. Life is never fair. If you want to be one of those 4 teams, you have to beat one of the big boys and be somewhat lucky. Sorry, JMO.
Fenway,
My perspective is that the goal of the playoff is to identify an unambiguous national champion. If you expand to eight teams, you will certainly leave out some teams that feel they are as good as some of the teams that get in. However, what you will not have is a team on the outside that can make a plausible case that they might be the best team in the country.
I favor the smallest playoff bracket that includes everyone who might be the best team in the country. I think eight is the right number.
16 is too big--my Missouri Tigers will probably end up somewhere between 12 and 16 in the polls, and they no business being in a playoff after a loss to a bad team and blowout losses to two good teams. 16 would include teams of that caliber that don't belong.
4 is too small--TCU can somewhat plausibly claim no one proved themselves better against them on the field.
8 seems just right.