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Great read. One comment though

> That doesn’t mean we’ll be seeing teams tank to get the 5 seed instead of the 4

Under the current format I don't think that would ever be a realistic scenario. The teams that are likely to end up in the 5 seed would probably never be in line to get the 4 seed (lower ranked conference champion). They would most likely be narrowly missing the a 1-3 seed by missing/losing their conference championship game. Similarly the teams that end up in the 4 seed would most likely be down in the 9-12 range (or out of the playoff entirely) if they didn't win their conference championship. So I don't think that specific 'decision' would ever come up for a team.

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That's a great point. Maybe it could have happened in a previous era, when there were more power conferences like the Pac-12 and Big East, so the teams vying for the 4 seed in a conference title game would actually be power teams who wouldn't fall too far if they lost. But those days are long gone and probably never coming back.

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