Life isn't fair, but in this case, there is a certain "fairness" doctrine that has to be looked at. You have to put yourself in "harms way" as was stated on one of the broadcasts this year when addressing this issue (Can't remember which one?) Not necessarily for a particular risk of defeat, which is possible, but the wear and tear of competition which can result in key injuries. OSU is good, but what is the minimum threshold to show this? After they blew out Nebraska in their "Week 1", can they shut it down and still make the CFP just because they meet the "eye test?" Look at Notre Dame, we lost Braden Lenzy and Kevin Austin against a blowout over Pitt and Jarrett Patterson in a solid win over BC. Even though Lenzy is back, his speed (and/or confidence in his speed - same difference) is gone for a while, so it's still a downgrade in weapons. Austin and Patterson (arguably the biggest loss) are gone for the year. Heck, go back to Skowronek getting hurt against Duke. As a grad transfer, every practice is key - especially with the loss of spring practice and craziness of summer under COVID. He's a beast now, but where would he be without that loss of full speed practice? None of these games were "big games" and all were against lesser opponents (i.e. OSU's Illinois, Maryland, and Michigan games - Love putting UofM as a bottom dweller!!!)
My point, and I am getting to one, is OSU has played 5 games, Notre Dame and Clemson have played 10 games and Alabama 9 games. So these teams have had twice the risk as OSU. What would happen in those other 5 games OSU doesn't play? Does Justin Fields sprain an ankle or injure his shoulder on some freak play? Do they lose a lineman to a freak twist up at the bottom of a pile? A speedy receiver pull a hamstring? Hell, there's a case to be made that an 8 game schedule (OSU's original design) isn't the same risk as a 10 or 11 game schedule (ND, Clemson, & Alabama after Conference Playoffs). It's one thing to be comparing 12 games to 13 games (ND vs. Conference Teams in a "normal" year) it's another when a team plays half the games as it's co-hort.