Agree, there is such a steep drop-off between 1 thru 8. But I really, really hate the idea of bye weeks for playoff teams.
Group of 5 and ND are the real issue here. The crazy "best 4 teams" rule has to allow for a group of 5 and/or ND. If the P5 did their own thing where conference champs were the only 5 teams under consideration. Then the committee would just need to seed the 5 teams and take the top 4.