You may be right. But consider this... *IF* the playoffs consisted of 16 teams.
And *IF* the 16 consisted of conference winners (autobid) + wildcards (i.e. 5+11, or 6+12, or 8+8m etc or 11+5).
Then ranking the conferences OBJECTIVELY —not via opinion polls, but by OOC performance, is the only FAIR way to select which conferences receive auto bids. I suppose I am biased towards fairness in sports because of my own experience competing against athletes who were cheating.
Each conference plays ~about 100+ OOC games over a three-year span. So that's a decent sample. No quality conference is going to sink because of one bad week. The P5 will remain 1-5.
Personally I like the potential of either 6+10 or 8+8. For example in a 6+10 system, the competition for autobid #6 (MWC? ConfUSA? etc) would be inclusive, very interesting for fans, and healthy for college football in general. It adds a little Cinderella factor into the mix.
Don't you like Cinderella?