My Initial thoughts:
1) Would the CFP Administration LLC be willing to give up that revenue/control, or would they even have a choice?
2) Maybe i missed it, but I still don't understand how we got here to being with. Meaning, why was there never a FBS championship regulated by the NCAA?
3) My interpretations of the solutions being suggested are either drop to FCS, which we can already do in current state, or join the new NCFA (if we meet criteria) and maybe get a little more of the CFP money and potentially look at limiting the out of control spending. I don't see the top 20 or so programs voting to give the G5 teams more money or "leveling the playing field", so we would really be counting on all the regular members of the P5 to vote in our interest I'd think. I was doing some reading on Reddit the other day and even many P5 fans are fed up with the current format as they also don't see themselves as having a legitimate chance of making the playoff in most years or have their season "matter" if they aren't playing in it. Here is a more recent thread regurgitating the same thoughts: https://old.reddit.com/r/CFB/comments/k6l35d/stanz_kirk_herbstreit_says_hes_worried_about_the/
If we can get to a solution where we financially benefit and at least have the G5 with us, i'm okay with it. If we get to a solution where maybe the top 30 programs do their own thing and everyone else is together, i'm okay with it assuming we financially benefit. If we drop down to FCS/are in a similar or worse spot financially, then it just doesn't make sense.