Problem is, under the current poll model it can be very hard to crack that Top 4 if you start too low. Upward trends that high are not what you usually see in the BCS. For example, let's say hell freezes over and the Gophers (who were unranked going into the year) win the Big Ten with 1 loss. I would bet every penny I have they don't rise above 7th in the BCS poll. (assuming maybe 2 undefeated teams) Don't get me wrong I will be happy as hell my team won the conference is playing in a big time bowl game but would it not seem weird for the Big Ten champ was not part of any playoff for the National Title.
Plus with a 4 team playoff you are guaranteeing non BCS conferences have no shot at the title. They might as well just make the Superconference National Title because that is what you will have.
Is it better...I guess. But it does nothing to solve most of the problems that exist within the current system, in fact it just exasperates them. This is an attempt at a quick fix when something bigger is needed starting with a complete working of the BCS polling system. As for the playoff I don't want 24 teams, hell I think even 16 may be too much to start with (though a good goal for down the line) but 8 seems right. With a couple of wild cards at least the lesser schools are playing for a chance. In a 4 team playoff they might as well drop down to D-1AA. (or whatever it is I always get them confused)