If CBB is worried about competing against The Masters, things are worse than I think. I think last year had the most Sunday viewers for The Masters ever. It was still several million viewers less than the final four. People watch The Masters because there is nothing else on TV and there will always be a certain number of people who like trust fund guys chase a ball around. Also, the final four isn't even played on Sunday.
If CBB wants to expand the field, fine. They should get rid of conference tournaments if they do that. It would make the regular season more meaningful. Given players are professionals now, I don't think scheduling a 40+ game season would be unreasonable. 40 games is slightly less than half of NBA games. College football plays over half the number of NFL games. The expanded number of games would help weed out the field and give more time for the cream to rise to the top.