How does fixing seeding issues make the regular season less important?
If anything, it makes winning games in the regular season mean more, because it's harder for weaker teams to get into the playoffs and get higher seeds.
I don't get the argument for shrinking the playoff field, either. The playoffs are more fun. I'd rather reduce the number of games in the regular season and create a play-in tournament for the lower seeds. Increase the number of meaningful games, don't decrease them!