Correct, also he stated he would be avoiding university presidents that already publicly oppose (aka reap the benefits of the current system) by going straight to the major donors, and convincing them instead.
Also one must keep in mind that very few schools currently turn a profit off of football, we just happen to live in a state with a major university that does. Seeing as how estimates of the overall profitability of a playoff are around 5 times what the BCS generates, that's a lot of potential money getting thrown around to schools that could very much use it, especially in the current economic climate.
Plenty of other reasons outside of revenue generation. Want to see an SEC team play in the snow ? For the students and fans that want to attend games post-season games, if your team earns home games, no more travel, hotels, plane tickets, and mini-vacations for a single exhibition game. No more barely filled stadiums or university's losing money, when they are forced to front ticket sales for bowls. I would seriously doubt the likelihood of any Div1 post season game not being sold out.
There's plenty of worthwhile angles to work. I don't see it as being likely per se, but being the fan of college football that I am, any real chance I see at a positive competitive change I get excited for. It is also nice having a person say he's willing to back it personally, and actually having the available funds to do so.