You are correct here. It won't impact this year significantly enough to keep undefeated Notre Dame

...out.

The problem is that this year's ND team with a loss (say Michigan in the opener) would be left out next Sunday when it may very well be deserving. But you can't schedule a 13th game (if ever allowed) and insure it will carry the same weight as a conference championship game generally does. Do see merit in presenting the committee with a 12-1 record when it's judging you against others with the same.

Provides additional pressure for ND to join a conference. Not something I personally really favor