The whole point is keeping a playoff to 4 teams is that ESPN/Wexyahoo's of the world can "argue" about why certain teams didn't get in. This is obviously preferable instead of having a true playoff that allows conferences to have representation. True sports fans understand sports aren't a beauty pageant (for all other major sports but college football).
Arguing about who you think was the best team means your system is broken. That's the point of the freaking playoff. There has never been one argument AFTER the season is over for baseball or basketball. You either won or you didn't and conference champions are part of the playoff.
The system has been set up in both the BCS and now the committee system to "pick" who they want. They tried with the polls, then computers, to slant the playing field with natural biases. When those couldn't keep everyone out, but didn't provide a true championship, people stopped watching, and yes, that's why they changed. They could have gone to a true playoff, but that would have allowed the TCU's or UCF's and equal shot rather than talking heads trying to influence others or committees having a weekly spin press conference.
No need to argue with Wexahu about scenarios. Anyone can argue any school in the top 10 could beat another team in the top 10. He's simply a tshirt fan of OSU that benefits from the system.