Last year the LAD made the playoffs with 84 wins. They shouldn't have. Are they a small market team. The 2006 cardinals went with 83 wins, their payroll is not exactly super low. And this Year the Tigers who do not have a low payroll are probably going to go. So I don't see it as hurting the small market teams. I see it as simply eliminating the best teams to put a lesser team in.
Take the 4 best teams from each league, which ever teams have the best 4 records go. Doesn't matter what division. In won't hurt the small market teams, and as for the wildcard, you would still have a race, in fact it may even open up more of a race to the fact that their are 4 spots open for anyone.
Although the system now is far better then it was. But it can still be improved with what I'm saying. Before the wildcard, you could have the 2nd best team in baseball not make the playoffs, and that in my opinion is a terrible idea. Thankfully that was with the creation of the wildcard, because having the team with the second best record in baseball not make the playoffs is not a very good idea. Just my opinion.