College football has a VERY SHORT SEASON, mostly played in conference. That's why these sort of alternatives to something like a real playoff exist. You can't compare it to pro sports that have 16, 82, or 162 game seasons followed by playoffs that last up to four rounds long. Or to March Madness where there are 68 teams selected after a large sample size of a 30+ game regular season and (often) conference tournaments that are open to all conference members.
You also talk about THE CHAMPIONS but THE CHAMPIONS of what? Conferences admit teams based on financial considerations, not just football considerations. It's not like pro sports where the NBA tells the Atlantic Division that they have the Raptors now. The SEC might get UCF apply to be a member but they'll just say "no, we already have a team in Florida, we don't want another." The conferences aren't set up fairly to begin with, but I don't hear you complaining about that.