No, they did it for competitive balance, first and foremost. I'm sure more money didn't hurt but I am not convinced they are making that much more. It's high school football. It also costs to administer the extra playoffs.
Even if it does net a significant amount more money, who cares? Seems this was the best for everybody.
You don't always have to be negative skeptic about everything. If you want to complain, you should be complaining about how winning a state championship if you only have 24 teams isn't that big of a deal, which is valid. For example, the new 7A in Georgia has 58 teams, but Alabama's 6A only has 32.
Size differences are a big problem. You can't consistently have schools with 1,200 enrollment playing schools with 600. I know there are exceptions, but I'm talking about a general point. That's what you don't get. All you know is your little area, with a bunch of 3A schools where the enrollment spread is 100 kids. You also don't understand the growth of metro area schools.
Either you get this, or you never played, coaches or know anything about high school football.