Interesting years, both great examples.
1992 - let's say Florida beats the eventual NC Tide. Not so crazy - they had the ball in a tie game before immediately throwing the pick-6 to Langham. Gators drive down and beat the #1 team.
4 team playoff? Maybe Bama is still in the playoff. 6+ team playoff, the Tide have a second chance. Whether you deem that good or not, it's certainly different.
.
1996 - here, we don't have to play the "what if" game at all - #2 Ohio St loses late to UM, falling to #6. Today, like back then, they're out - done. Toast. But in 2026? Maybe the Buckeyes were the best team that year....so facing OSU could be the 3 seed's curse in a 6-team playoff.
Then you have Florida, the eventual NCs....lose to FSU late, needs unranked Texas to beat 2-time defending NC Nebraska, has to beat #11 Alabama themselves, AND benefitted from the PAC-B1G obsession/tie-in to the RB just for another shot. In the modern 4-team playoff? The Gators drop to #4 and their rematch with FSU is simply a semifinal game.
Good job, FSU. You just beat your rival at its highest peak ever and your reward is....an immediate rematch without heaven and earth being moved, it's simply the system we've devised. That's fucked up.
.
In reality, you'll often have the best teams be in the top 2-3 and other times these great teams will simply have lost and getting to play an inferior opponent as the lower seed (in disguise).
I'm not sure who benefits from that.