But is it about who is "best" or who has earned it? You can only win the games you play, and the games have to matter. Conference champs makes every conference championship game important. It also makes scheduling tough OOC games more likely because they don't affect your chances, just playoff ranking order.
If you're truly worthy, you win your conference, no matter how difficult. The fact that SEC championship game this year really meant very little is sad. Or that a team can sit out championship weekend because they didn't win their division and leapfrog a team that actually plays and loses.
Conference champs gives everyone, statistically, an equal shot at the beginning of the season. Just watching how the CFP committee treated Cincinnati early in the rankings shows that the deck is already stacked. As Canes Legacy said, it turns the conference championship into a de facto first round. So in actuality you're getting closer to 12 teams without adding more games.