It is exactly the same as the past decades. They publish the criteria, and it is exactly the same. The 12-team playoff has no impact on ranking = they specifically stated that especially as regards to seeding. They will seed teams to a rematch if that is where the rankings lie.
ND is not on the bubble with 11 wins. They are in. 11 wins = in. 10 wins = unlikely but maybe?
SMU is not undefeated. They might get in with 2 losses but I doubt it, and they aren't replacing a 1-loss ND.
Indiana is an undefeated BIG team still, and deserve to be ranked higher. They will drop significantly with their first loss, which I expect before the BIG champ game. If they get to BIG champ undefeated (which they'll have to with tiebreakers - they truly haven't beaten anyone), they deserve to be ranked higher.
The likelihood of a 2-loss OSU team missing playoffs (unlikely) is almost an order of magnitude higher than a 1-loss ND team missing.
The Big-12 might cannibalize itself to 1 team. None of them are perceived good or performed well.
Save your candles for other things, like a peaceful inauguration for whomever wins.