What will the committee do if Georgia, Florida state and Washington all lose their conference championship games. While not likely it’s definitely possible. Michigan has no chance of losing to Iowa but if you want to play round 2 where all of the top 4 lose go for it.

Iowa beating Michigan is just as likely. The only one that is not favored is Washington. Washington is the worst undefeated P5 team by far.

1-loss conference champs will get the nod over everyone else. Then it's "eye test" garbage. In your scenario, that means 13-0 Michigan (conference champ), 12-1 Oregon (CC), 12-1 Texas (CC), 12-1 Alabama (CC). They'd have to be insane to choose otherwise. If Michigan and/or Texas lost the CCG as well, then we'd get non-champ P5 teams.

Here's what the rankings SHOULD be based on what they were last week.
1. Michigan
2. Washington
3. FSU
4. Texas
Mix and match the first 3 however you want.
If any SEC teams get in over Texas, :texas should file a lawsuit as big as Texas.

Bama keeping out Georgia is nice but I’d rather bama lose and then Georgia lose in the playoff