It is a stupid argument, nothing "solid" about it. It lacks intelligence, morality, fairness, logic, and frankly coherency.

How would relegation result in anything other than the permanent reign of blue-bloods at a never-before-seen level?

Why would anyone ever commit to play for Minnesota, Illinois, Northwestern, Penn State, Maryland, or Rutgers with a possibility of being relegated to FCS before they ever see the field? Better to go to Ohio State or Michigan and ride bench until an upperclassman.

At some point, recruits/players would have to be released from their commitment to play for the school, which would be a self-imposed death penalty for any program.

Take the past few years for instance. UCF lost every game they played in this season. Without Relegation, they stay G5. They will have a couple down years but will be back on the national stage

Now, with relegation, UCF goes 0-12 and gets demoted from G5 to FCS. They still suck, but now they need a great (for FCS level) season to ever even re-enter the limelight. Not to mention at the G5 level they aren't even in the top shelf. So they have to win their conference (again) to get to P5 level and then compete to have a splash in the pond.

You still think this is a good idea? Or what that not 'coherent' enough to comprehend.