To create parity across the sport, or at least the chance for it, you need to acknowledge every conference champion. You can still seed them appropriately, but a conference champ, especially an undefeated one, deserves a chance.

Without Cinderella's in the Big Dance you don't have Gonzaga. They made a couple runs early and built off of it. But they only had that chance because they got in as a conference champion in 1999 and haven't missed the dance since. Imagine what BYU, TCU, Utah, Hawaii, Boise State, UCF, etc. could have been able to do if they had the chance to really build off the success they had. And even count Cincinnati. They could have won a couple games in an expanded playoff rather than just be one and done in a 4 team farce of a playoff.