Agree with this. I'd go with 4 tiers:
Tier 1: Clemson, Ohio State, OK, AL, UGA, LSU and ND. These teams are the Yankees of college football.......the current day "blue chips". They're always ranked in the Top 10 and always have a chance to make the Final 4. The NCAA really needs to do something to fix this. Personally speaking, the past 12 years have been the most boring and the least competitive top to bottom in my lifetime. Very, very top heavy.
Tier 2: Those teams perennially in the top 25, but with the ability to make the FInal 4 only if everything falls perfectly into place. Examples = Wisconsin, Penn State, Michigan, Auburn, USC, Texas, Oklahoma State, Baylor, Florida, Northwestern and Texas A&M. These teams can be entertaining to watch and always have a shot at beating a Tier 1 school......at least once every 2-3 years. They also frequently get desirable time slots for their Saturday games.
Tier 3: Somewhere in the vicinity of 80 teams that can perhaps make it into the Top 25, but will certainly not be there every year. Examples include North Carolina, Missouri, Florida State, Washington, Michigan State, Minnesota and Virginia Tech.
Tier 4: The 10 worst programs in Power 5 football over the past 10 years. Kansas, Illinois, Syracuse, UConn, Vandy....etc. Have a chance to win 5-6 games only if all the dominoes fall their way (except for KS).