Yeah, buddy. The top eight teams should be competitive, and it will let teams that jell as the season progresses get into the playoffs. High school teams play as many as six playoff games, so this shouldn't put too big a burden on college teams. While there will obviously be quibbling about the 7th and 8th spot, eight places would provide a space for every team that legitimately has a shot at a national title.
The key decision is how many team are enough and how many are too many. Right now I think everyone agrees that we have too few teams, 2, in the playoff.
Of course in NCAA basketball they take too many teams. No serious analyst of NCAA D1A basketball would for example argue that Arizona team that finished fifth or sixth in the PAC10 a few years ago but won the post season championship was really a "national champ." They were a team that got hot and won a post season tourney. [No offense Zona fans, I am sure even you were surprised when your team got hot that that year won the post season tourney. And there are other examples, I could give since the NCAA went to 64/65 teams.]
Football would need to take enough teams but not too many. Basically, I can see the argument being between an 8 or a 16 team formatt.