The problem for CFB is that they want NFL like money, but don't organize themselves like the NFL. Can imagine if all 32 NFL teams let 6 determine who gets spots in the Playoffs and who gets what share of the revenue? All CFB has done is lock in who the perpetual winners are.
To your point, organization is key, and currently, it is a chaotic mix. College football has long suffered from having hundreds of teams and schools with vastly different resources. Conferences evolved to support regional contests between near-peer schools when travel and scheduling were more challenging. The NCAA evolved to support uniform rules around player safety, amateurism, and parity. Unfortunately, this also resulted in power conflicts between these organizations. When the TV money got big, the NCAA ceded more power to the conferences. And now we have a third entity in the mix, the CFP.
The NCAA has already proposed a new top-tier subdivision. This approach is consistent with the way the NCAA has created the current divisions, which have always evolved and changed over time. One key difference in the latest proposal is that the NCAA wants to cede even more power to the top subdivision concerning rule-making.
As I see it, the biggest challenge with the proposed new subdivision is conference organization. Conceivably, a simple approach splits D1 at the P4/G5 juncture, placing about 65 teams in the highest tier. This has happened organically anyway, to a large degree. But what if the consensus is that you need or want only 32 NFL-lite teams in the top subdivision? If there are 65 teams in the P4, how do you create a subdivision smaller than that without breaking up conferences or cherry-picking from them? One obvious way is to simply allow the SEC and B1G to be the top tier. It's already headed in that direction for the CFP. FSU and Clemson see that train coming and want desperately to jump on it for the sake of their future relevance.
Another thought that preserves the current conference arrangement would be to take the NCAA's proposal, keep the P4 together as the top tier, and let their separate governance organization be aligned with the CFP. They could then take a page from the NFL playoffs and let each conference have their top 4-8 teams selected for the playoffs, plus wild cards, for a 32-team playoff tournament. Limit the number of non-P4 games in the regular season, even if it means dropping a game to make room for more playoff games. Maximize the spectacle and the media money.