I disagree, at least at this point. Let it play out a couple of years. I'm assuming the byes are an advantage. I think someone claimed they are a disadvantage, though. If that is the case, we need to get rid of them. Go to 8 teams or 16 teams.
But I like that you need to win your conference championship game to get that bye, even if that means Boise and Arizona State get those byes.
We knew coming in that the 5-seed could be the best spot to be in, and the 6-seed might be almost as good. So with Texas and Penn State getting easy* roads to the final four, that shouldn't surprise anyone. (* note that Arizona State made that game a lot closer than most of us expected.) But the top 2 seeds were supposed to be easy-ish, too. Ohio State being the 8 seed was an anomaly, with the way they're playing. That's going to be rare. And I'd guess that, normally, Georgia would be favored if their quarterback wasn't hurt. (I'll admit that that's a guess, since I don't know much about Georgia or Notre Dame.)
If I had a vote (spoiler alert: I don't), I'd say we should let this 12-team thing go for a couple more years, with a reseeding after the first round to get down to 8 teams. Maybe reseed after every round. But the NCAA likes to shoot from the hip. This may change after this year.