There are four 11-1 teams. (In the P5. Nobody cares about G5 teams.)

So, that gives you seven teams to fill a 4-seed playoff.

#2 LSU and #4 Georgia are playing.

→ If Georgia beats LSU, then they are CLEARLY the best 11-1 team, and gets the #4 seed.
→ If LSU wins, Georgia joins the ranks of the seven other ranked teams with two losses- Wisconsin, Florida, Penn, Alabama, Oregon, ND, and Minnesota.

At that point, you'd have to compare Georgia vs. the other 2-loss teams. Maybe Alabama is better than Georgia? Blah blah blah. At any rate, you'd still have to justify putting a 2-loss non-confrence champ above a 12-1 Pac-12 or Big-XII champ. Good luck.