A few days late here, but I don't mind the playoff changes. Something needs to change, because the current system sucks. If the goal is to introduce more parity and improve recruiting, I'm not sure this will get there. What you need to show the 5* kids is that Alabama or Clemson aren't the exclusive path to winning (or realistically playing for) a title. To do that, you need upsets, which are most likely with more games. Giving the top-4 a bye makes upsets less likely, but the whole thing is better than a 4-team field.
The only part that really sucks is the death-blow to the Rose Bowl as anything resembling what it used to be. Either it's a perpetual semifinal, or it's the 3rd best Big Ten team against, maybe, the 2nd best Pac-12 team.