The 12 CFP semifinal games have been decided by an average of more than three touchdowns

 

https://www.cbssports.com/college-football/news/is-the-college-football-playoff-delivering-on-its-promise-blowouts-lack-of-upsets-suggest-otherwise/

The TV ratings reflect that opinion. From 2014-18, ratings for the CFP declined more than 25%, according to Sports Media Watch. (The numbers were up slightly in 2019.)

The 2006 BCS Championship Game between Texas and USC remains the highest-rated national championship since 1998. The first CFP National Championship in 2015 (Oregon-Ohio State) is second.