My thoughts on PSU:
I don't think they'll be punished much, if at all, for losing to Oregon. I mean, someone has to lose these conference championship games, and I don't think the committee wants to set the precedent that reaching your conference championship can hurt you (I believe they've said as much). Let alone if you lose to the #1 overall team in a semi-competitive game. Now, if one team absolutely hammers the other it could change the rankings around the margins, but I don't see PSU dropping below hosting a first-round playoff game and I certainly don't see them dropping out altogether. As for the Bama thing, yeah, I think we all know where this is headed haha.
Additionally, I actually think PSU has a decent shot at beating Oregon. The schedule results have been very similar, as well as the statistics. Sure, their offense will put up numbers, but I think our defense will hold up well enough. To me, the bigger issue is Oregon's underrated defense and can PSU score enough to match Oregon's output. Big questions there. Oregon is the rightful favorite but there's no reason this shouldn't be a decent game.
Also, are we sure it's better to be the #1 overall seed? That matchup with the 8/9 winner looks more brutal than say the 5/12. Plus, you miss out on hosting a game, which is the coolest part. I also don't like my team sitting too long while the other team is coming off a spirited win. I believe the whole format is going to need reworked. The auto-byes given out to the four conference champs (and/or the highest ranked non-P4 team) are going to make for imbalanced brackets that, over time, will cause consternation. Just one man's thoughts.