independent in their oversight. Sure they give a pass to to blue blood programs for recruiting violations and then hammer bo didly tech the next week. But in general, they're an independent organization that applies the same rules to the biggest P5 programs as they do to the smallest sunbelt teams.
If FBS gets their own governance, it will be dominated by the P5 schools. It will be organized in a way that benefits the already wealthy P5 programs to the detriment of the G5 schools. It will be the first step in a formal splitup of college football where the P5 breaks away from the G5.
At least now there's a hypothetical shot for an outsider to make the CFP and an autobid to a big bowl for a G5 team. All that will go away if the P5 ever gains control over their governance. As bad as the CFP committee has been this year, it will be even worse for the little guys outside of their official club. They won't even have to pretend to make a show of trying to be fair.