Well in that scenario, you are saying the CFP will view a 2 loss Texas being in the same pool of non conference champ teams of Ohio State (assuming Oregon wins Big Ten for simplicity sake), Penn State, Notre Dame....... If Texas loses, they would likely fall to the line of getting the last host seed. That puts them behind Ohio State, and 1 loss Penn State and 1 loss Notre Dame.... That would be the minimum.... Tennessee has better record and resume than Texas. And based on the bipolar attitude of CFP tonight said they are ranking teams on who they view as better
At minimum with Texas losing in Atlanta, that means the following:
1- Oregon
2- Georgia
3- Miami
4- Boise State
5- Ohio State
6- Notre Dame
7- Penn State
8- Tennessee / Texas