This is off the cuff, so I may change my mind later, but to take a crack at this thing:
The way I see, the NFL does a better job of appealing to the American sports fan with football and CBB does a better job than CFB of competing with its pro league counterpart.
So I'm looking to take the best from both.
With the NFL, I think the "best" is the feeling fans have that they have a chance to win a championship with free agency, a hard cap, a draft, equal revenue and 12/32 teams (37.5%) making the tournament with a shot to win it all every year.
With CBB, I think the "best" is that it has a tournament that creates incredible moments and Cinderella stories while involving the whole country's regions while also getting to a championship "Final Four" round where the elite teams playing their best at that time will match up.
CFB can't emulate the total parity of the NFL from a financial standpoint, so it needs to follow its own model from CBB to create those Cinderella stories.
CFB also needs to avoid the problem of CBB where the regular season is kind of lame and it's all about the conference tourney & NCAA tourney.
How best to apply these things to CFB?
1. I'd make it so that we have 4 conferences with 16 teams playing 2-round championships. Pod scheduling to emphasize regional rivalry games that will be well attended, but no "divisions" and no consideration to a "pod championship" mattering in terms of who makes the playoff.
2. Conference semi-finals are the 4 highest ranked teams within the conference at the end of the year. 1 & 2 seeds host the semi-final games at their home stadiums.
3. Conference championship is the next round of the playoff and this is played at a neutral site within the footprint.
4. The 4 winners are then the national playoff. Many years a total underdog that started the playoffs outside the Top 10 or even the Top 20 will make it. That's a good thing (our "Cinderella Story").
5. I wouldn't even seed these teams in a traditional way. PAC and B1G champs should play each other in the Rose Bowl (Los Angeles). SEC and ACC champs should play each other in the Peach Bowl (Atlanta).
6. Then, championship game would be those winners on a rotation between the Cotton (Dallas), Orange (Miami), Fiesta (Phoenix) and Sugar (New Orleans) sites.
7. This is actually a 16-team playoff and I believe every program in the country would think it had a chance to make the tournament (only have to finish Top 4 in your conference), every region would be well represented for viewership every year, you'd have some Cinderella years, and at the end you'd crown a champion it would be hard to argue with being deserving.
8. To your earlier concern,
@Jens1893 , this would actually reduce the number of games a team might potentially play. Everybody still plays 12 in the regular season. Another 8 teams would play 13 (conf semi losers), another 4 would play 14 (conf final losers), another 2 would play 15 (conf final losers) and then 2 would play 16 (championship game attendees).
9. Because this would likely kill the bowl games, I think it would justify adding a pre-season scrimmage or two against FCS level teams to further increase revenues with those extra events added to the season ticket packages -- which would save football finances at those lower levels as an additional benefit because of the big paydays for visiting. There would have to be a rule that no FCS opponents are allowed on the regular season schedules.
10. A really nice side benefit here is that there wouldn't be a reason to care about unbalanced schedules, who a team avoided during its conference slate, whether the conference played 8 or 9 conference games in the regular season, or whether a team played all P5 opponents in the non-conference or all G5 opponents or whatever. It would all be about being ranked high enough to make your conference tourney and then winning it to get into the Final Four.