correct in that assessment. If they go to 12 teams then I could see a few different options.
Option 1: Top 12 ranked teams in CFB rankings.
Option 2: All 5 P5 conference champs and highest ranked G5 conference champ get auto-bids with 6 at-large teams.
Option 3: All conference champs ranked in top 16 or top 20 (or whatever number they decide) get auto-bids with rest of the spots going to at-large teams. This would allow them to claim fairness while still ensuring no more than 1 or 2 going to G5 schools each year.