Two thoughts, and I went to Northwestern so I don't have a dog in the fight,
1- Can you imagine Sarkisian at the beginning of the year- "Hey guys, If you run the table, go undefeated and win the Big 12 conference, we won't make the playoffs, but ......."
2- If this was say , week 8 or 10, and the same outcomes occurred, would GA drop all the way to 6 and would Bama bump up from 8 to 4- skipping TX along the way. I personally don't think that would have happened.
In a way it seems like a double standard, the committee leaves out TX because of how their team is now -without the starting and possibly backup QB, as if to say they're not one of the top 4 teams now, which I can see the point-- but then hard to make the same statement about GA leaving them out because regardless of that loss, they are clearly one of the top 4 teams still. That is the problem with a subjective playoff.