4 teams when there are 5 "power" conferences is perfect. It's survival of the fittest. It encourages working and becoming a multi-year elite program and earning those benefits o the doubt. At the start of the season, those P5 conferences know that one of them (or 2) are getting left out - claw and scratch and bite and don't be left out.
12 teams......screw it. It's college basketball. Finish 3rd in your conference, doesn't matter, get hot late. Or if it's including every conference, yeah, let's have some games over at halftime in the playoff. That's fun. Let's have backups playing it out from the 3rd quarter. Good stuff.