The new system doesn't end this. While last night wouldn't have changed much for us, it would have been just as exciting for, say, Florida State fans who would now have a real shot of making it into the four-team playoff. Whereas back in reality, they are a 10-1 team just like us, but the Oregon and KSU losses don't really matter to them since they probably won't make it into the top two. And even so, I think it is well worth it to alleviate the problem of worthy teams getting jobbed. I know we are happy because our chances of making it in with one loss are good, but that still leaves potential one-loss champions from the ACC, Big 12, and (maybe) PAC 12 on the outside looking in. And lest we forget, we too would be still not even be in the hunt if Ohio State was eligible. Instead, we would be likely watching an Ohio State-Notre Dame championship game because they both continually won close games against weaker schedules (although, to be fair, Notre Dame's schedule looked pretty darn tough at the beginning of the year).
My point is, the four-team playoff makes sure that worthy teams don't get left in the dust. Plus, you automatically get two more exciting games between great teams to end the season. And all that changes is that the teams battling for #4 instead of #2 go crazy when upsets happen towards the end of the year. Sounds good to me!