Yep. From an ESPN article:
MLB is implementing an expanded 16-team playoff format for the 2020 postseason. The top two teams in each division, plus the two remaining teams with the best records in each league, will make up the eight-team fields in the American and National Leagues. The division winners will be the top three seeds in each league, with the second-place teams slotted as seeds four through six, and the remaining two qualifiers seeded Nos. 7 and 8.
The first-round matchups will follow a 1-vs.-8, 2-vs.-7 format and will be best-of-three series, giving things a March Madness feel.
Even if the Jays drop behind the Yanks in the AL East standings, they're in a good position to be one of the 7/8 seeds - unless they really fall apart down the stretch. I like Toronto's chances in a best-of-3 series. They don't have the starting pitching depth for a longer series, but they do have Ryu and a bunch of very solid arms in the bullpen. And the ability to score runs. I can see them stealing a first round series from a better team. If the next round goes to best-of-7, then it's a different story. In any case, it's all very exciting and I'll be happy even with a first round exit as long as the games are competitive.
2015 was supposed to be their time, stupid Royals The 2020 Jays team is very young. Lots of potential, but also quite a few holes that need to be plugged. If the young core keeps developing and they add some more complementary pieces to the team, then I think they could really be competitive in another year or two. This year expectations are lower and just making it into the postseason is a victory.