scenario is actually similar to the current format of the CFP and NY6 Bowls, albeit a little better for the G5. 8 teams - auto bids for the 5 P5 conference champs, and 3 at-large spots. 1 at large spot must go to the highest ranked G5 team.
Yes, the G5 team will play the #1 seed most years but I think it’s their only shot at inclusion.