Great post. Especially after the number of scholarships were equalized, there should be more than the original four teams.
Like ND this year, some teams need a game or two for everything to 'gel' and then they start a winning streak. In general, I think wins should be weighted higher later in the season.
The greater parity has lead to a need for an expanded playoff. I always preferred at least six teams during the BCS years. Not always justified, but usually it was. Now I agree with twelve teams, but the ND debacle suggests more options are needed. HOWEVER, no more than twelve playoff selections, no more. Just how do you get there. I have two suggestions (or a hybrid of the two).
First suggestion:
I suggest top ten get selected as currently done. Slot 11 and 12 goes to ranked teams #11 thru 14 BY LOTTERY PICK.
If no G5 is ranked in top 14, then highest top 25 G5 gets slot 12. If no G5 is ranked, then the remaining three teams in the top 14 get a lottery pick for slot 12.
Second suggestion:
Use a weighted point system that teams acquire throughout the season. Teams 11 thru 14 are selected by points for slot 11. A G5 is selected for slot 12 per previous suggestion, however, if none qualify, then use points to select from remaining three. Tiebreakers as needed.
Well, these are a possible solution. Other than dropping the byes, I don't think the number of playoff weekends played should increase.