I don’t see how there would be balance. There has only been one competitive semi final game. Ohio State (4) v.
Alabama (1) in the first year of the playoff. All the others have been blowouts. 1 blows 4, 2 blows 3, and the champ game is competitive. Expanding to 8 would allow all P5s to be represented but can you imagine Alabama (1) v. UCF (8). We’re talking bloodbath before half time. CFB does not have a 3 point shot, that is the only thing that allows lower seeds to beat higher seeds in BB.