That's what would have happened last year.
Ohio State was 10-2, was #6 in the final CFP rankings, with losses to Oregon and @Michigan.
Utah State was 9-3, unranked, with losses to Wyoming, BYU, and Boise State.
Northern Illinois was 8-4, unranked, with losses to Michigan, Kent State, Western Michigan, and Wyoming.
How in the world is that fair? I don't understand why people think we should treat the MWC/C-USA/Sun Belt the same as the B10 and SEC. It makes zero sense.