I'm with you on this Ancient - love the play offs (I'd even like a regular/post-season system like in U.S sports). When you know the rules of the comp before you start, you can't say it's unfair. If you're good enough, then prove it over two-legged play-offs.
But this new format seems like play-offs organised by people who'd rather not have play-offs at all.
One thought - imagine what it'd be like to finish 4th and be turned over at home by 7th in front of a full house. Done. Out. No chance to make amends.