128 team playoff idea - finding the true champion in football

I think this may be the best approach to finding the best of the best in CFB. The entire regular season can be rolled up into this:

1. 4 cream puffs scheduled to start season
2. Seeding then is based in an AP top 128 after week 4.
3. Losers continue to playing in lower and lower loser brackets
4. Winners obviously move on
5. 7 total games to determine the champ
6. True "just for fun" bowl games afterward - maybe a smuggled conference championship game based on record

I think this system would alleviate the imbalances in the system that adversely affect teams like LSU trying to battle the powers in the SEC that always push Bama on the rest of the country.