Would they be capable of beating a team like Alabama or Georgia? Well no of course not. The playoff committee's stated goal is to get the 4 best teams in there, but it's really "the 4 best teams among the group that will make the highest media ratings." Those evil dastardly computers that everyone hated from the BCS, they might do things like apply strength of schedule uniformly to all 1-A teams. But the basketball and football selection committees know that it's a mercurial tool, you use it when you want to make sure a low-rating team doesn't get in, and you ignore it if it means you can get a high-rating team in there.