With the exception of Alabama (for which there is absolutely no justification being even in the top 10 [yes, this is a joke]), I think that all of the playoff contenders -- the four that did make it, and the next several that didn't -- are all good enough to be in there.
However they decided it, they would have a solid group of teams. Despite my wish that Michigan were in there, I think Ohio State and Washington are both excellent teams. In fact, I think Ohio State and Washington would stand a decent chance of beating Clemson, but not by so much that Clemson isn't a good candidate as well.
Now, are they going to add a handicap system so that Alabama starts its games at -14 points or has to play with fewer than 11 men or something?