That's the way it is currently. But that doesn't mean Big10, SEC, Big12 and ACC can't go their own route. Or push more CFP money toward the Power conferences. What would happen if conference auto-bids go away and top 12 teams get CFP bids? Would G5 be better to have their own playoff?Individual schools don't get a vote in CFP governance.
Each conference gets 1 vote. With Notre Dame, there are 11 seats at the table.
Just look at the current playoff payout structure- 80% for 64 schools from P5 conference and 20% for all the G5 schools.