The issue with the NCAA tournament is that it is set up as the championship of all conferences so every conference gets an automatic bid - and it should. But that means the bottom sixteen teams in the tournament - seeds 13-16 are conference champions and it doesn't really matter whether they won their tournament or their regular season - they do not stand a chance of getting to the second weekend and usually not to the second game (has a 13 seed ever won a game?) If you cut down the tournament size without excluding conferences, then whatever number you cut out is coming from 'at large' teams which are mostly P5 teams with a few A-10, BE, and AAC teams thrown in. You are not getting a more competitive tournament, just a smaller one. And excluding in most years some pretty good teams. This year they really did not have good choices for the last two or three at large bids, but those teams were still a lot better than the 14-16 seeds. In fact having the conference tournaments most years add a couple of more mid-major teams to the field because of surprise losses by good teams which cuts down the bad P5 at large bids.
Really - the competitive games in the tournament are pretty numerous - it is just most years there are a few behemoths at the top that blow away all comers in the first two rounds. I don't think Maryland felt they had an easy game against Princeton, and KY certainly nor did TN in either of the first two rounds. Three seeds - AZSt and Louisville and OrSt?! Four seeds - Duke, UNC, Stanford and Cal?!
So ... of the top 16 seeds playing at home Uconn, Baylor, SC, FlSt breezed and Iowa and ND handled their business a little less easily - the other ten were stretched, some to the breaking point.
That seems pretty good to me. Will Uconn get pushed in the regional games like they did last year, who knows, but I doubt anyone else is betting on a sure thing in the other regionals.