So in this model it's better to be in third place in the conference than first or second, right?
Like this year, Michigan and Ohio State would play each other in the first round, whereas Penn State would snag one of the at large spots and get to play the third best team from another conference.
From a logistics perspective it woul work, but I feel like it provides some pretty perverse incentives as normally you want to reward the teams that finished higher in the regular season and set it up so that top teams would play each other later in the playoffs.