We should know by now that P5 status is a long shot for us, even with a large scale shake up... I do believe we shake out ok regardless in the end...
Eventually, the playoff will be moved to an 8 team playoff... The success of the 4 team has been huge and more and more as teams are left out (and wanting more playoff $$ games) this will inevitably happen...
I think at this point, you will see more of a Automatic bid scenario with the P5 conferences (or eventually P4), which leaves 3/4 at large spots left... I think in order to avoid any type of lawsuits from non-p5 schools, you will see an automatic bid for the highest ranked non-P5 school, leaving 2-3 at large bids for more P5 teams...
At this rate, I would almost prefer to be in a G5 conference, as a road to a playoff would be easier than that of a P5 school and it would make the entire season interesting... Not sure how long this will take, maybe 10 years, but I do think this is the eventual destiny for College Football