Yeah, but even that is nonsense since last year there would not have been 4 conference champions in the 4 team playoff. 1. FSU, 2. Auburn, 3. Bama, 4. MSU (or maybe Stanford).
2012 would have been the debate you are discussing. 1. ND, 2. Bama but then it gets interesting between Florida, Oregon, Kansas St., and Stanford for the last 2 spots. Stanford beat Oregon and won the Pac 12, but had 2 losses to Oregon's 1. Kansas St. was the 1 loss Big 12 champ. Florida had 1 loss to Georgia (and did not play for the SEC title). Florida was ranked 3rd in the polls and Oregon was ranked 4th, but neither even played for their conference title while KSU and Stanford were major conference champions.