My opinion: There are too damned many D1 teams, which waters everything down. While it does make for some fascinating Cinderella stories in the tourney, they are so few and far between that it makes the regular season less interesting to me. Who really cares about Stony Brook vs. Slippery Rock? (BTW, I just made up that matchup so don't try and call me out on it.)
I don't suggest that we have as few as D1 college football (120'ish) but maybe 150-200 D1 schools max. It would make the names more recognizable and provide for more interesting regular season, out-of-conference match-ups.
I agree with this 100%, and it ties into my annual rant about how power 5 schools schedule in Nov/Dec.
350 schools in D1 basketball is ridiculous, and what it does is create a huge pool of bottom-feeders whose business model is to serve as sacrificial lambs for power 5 schools for a hefty fee, then hope to win their conference tourneys, and cash that NCAA check.
You have a conflict of interest of sorts, because part of the charm of the tourney is giving the little guy a chance, and if you lop-off 100-150 schools from D1, that element is diminished, but at some point you have to make a choice for the general health of the sport. I just see no real purpose in leagues like the SWAC, MEAC, Atlantic Sun, WAC (current alignment), America East, Southland, Big Sky, Northeast, OVC, Big South, Metro Atlantic, Summit, Sun Belt, and so on, and so on, all being D1. Maybe there are individual schools in those conferences that (sort of) belong, but as a whole, it's just 100-200 schools that might not even be all that good if they competed in D2.