It's all about the money unfortunately and all decisions these days are made to maximise profits. At least that's how I see it.

first of all i would love to commend for your effort in putting this together 
football and sports generally is  sometimes about luck 
sometimes confidence and squad experience (teams)

and in as much as sports is about entertainment i still think it should be more fairer.
A FAIR GAME COMES WITH LOTS OF ENTERTAINMENT AS WELL 

The playoffs are much better because it gives weaker teams a chance.

While I think that the play off system might be fairer overall, I think that true champions show themselves in any circumstance. The knock out games with one game is something very special and should be continued as these are "Do or Die" games. In my opinion these are the best ones to watch :)

Both works:); entertaining if be fairer. 
!ALIVE
 

When I wanted to think about this post to give a well thought out and beautifully formulated answer, all of a sudden all kinds of strange things happened. I lost my balance because the apples from the fruit bowl suddenly jumped against me, causing the paint to splash from my brush and now Skipper is sitting with a blue nose. I had just put red paint on my brush, by the way. But because I was about to fall, Skipper bumped his nose against the vacuum cleaner which then attacked him. Now I thought that was very unfair. Skipper couldn't help it either! But yes, that makes me think that sport should be fairer. But the whole thing was also entertaining in itself, and that also has its advantages.

To put it briefly...I'm not sure what I'd think yet.

I actually think it might be better if both could happen but if I had to choose 1, I would say entertaining. Most of us who watch it want entertainment. In a way, I think the fairer way does end up with more matches.

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Ahhh the beautiful game. TBF as an LFC supporter it is kind of easy for me to be a happy supporter at the moment 😂

I think the playoff system makes it fairer.  Anybody and everybody have an off day now and then, Thanks for sharing your post.

Football is really a sports with mixed feeling....
After all the input and trainings just to be decided within 90mins of performance.
Well, the world of sports to me is already fair and entertaining but you can only appreciate these when your club is on the winning side, lol.
  Imagine how happy I was when Chelsea against all odds win the Champions League and most of the late wins we get just like with Chelsea Vs Newcastle scoring in the 89th minute.
Here, I am happy but for the fans of Newcastle, they are very sad and also the fans of my rival clubs, Manchester United 😂😂

It seems to me that both scenarios have many positive things, for example a direct game gives the small rival more chances and if a surprise occurs that excites the public a lot. The fans really like to see those feats where the teams with fewer resources achieved important milestones, but in a series of games you give more opportunity to show who is the true strong team and they will surely end up winning as it would be in 7-game basketball. I don't know what would be fair or unfair because I like to see both situations. I think that for basketball the series of games is good, but for soccer it is not so attractive, at least in a final.

Wow, this is a great piece of writing and really makes one think. I think you need to find the balance, and I suppose it's a little bit like running simulations to see how many times a team would win out of 100. That helps with calculating sports betting data.

The more games you put (i.e. playoffs) the more chance you will achieve the most likely scenario. The less games you put, the more chance of an upset.

I'm more inclined to entertainment, because this is where we can see underdogs excel.