What's the point in having divisions then?
That's kind of an amorphous figure isn't it? What's .500? What is their strength of schedule? All .500 records aren't the same are they? Are you trying to get the best teams into the playoffs or the teams with the best records? Should Marshall with their 12-1 record in Conference USA be in the college football playoffs?
I know that having a team with a bad record in the playoffs doesn't seem fair but you're never going to get a system that's perfect and like jrry said, it's cyclical and rarely ever happens.
Doesn't seem like a broken system to me.
On the other hand, to be bowl eligible in college you have to have at least a .500 record so it's not something that's breaking new ground. Of course that's not a playoff system though so while the NFL and College football are both fruits it's still kind of apples and oranges.
It does leave a bad taste in your mouth though doesn't it?