It's rigged because only ~12-15 teams have a chance of winning it all. The same 12-15 teams that do so now. The other ~100+ are simply just cannon fodder for the top 12-15. Teams 7-12 have zero chance. I see that now.
it's always been the same 12-ish teams that could win it all. except for the literal birth or the sport, its the same teams winning the title regardless of the format for deciding the champ. can count on 1 hand the number of title winning teams outside of bama, nd, usc, ou, texas, osu, mich, psu, lsu, au, fsu, miami, uf, neb, maybe 1-2 more. hell, the whole reason there's even a cfp is to maybe give more teams a chance.
but it's the same with cbb too. unc, duke, zona, kentucky, virginia, kansas, indiana, msu, ucla maybe 1-2 more claim vast majority of titles since early on.
just the nature of sports, especially when there are so many participants.
having said that, i liked the old format as well. maybe better, i don't know. nostalgia plays tricks sometimes.