The playoff committee thinks differently. They view the Oregon and Tennessee games against Georgia as being the same. In fact if you actually look at the statistics in the UGA Oregon game in the UGA Tennessee game Oregon actually played Georgia better. The fact that Georgia shut it down the second half to run out the clock skews the view that the win was closer than it really was against Tennessee.
Here's what the playoff committee chairman had to say
How much does the committee look at margin of defeat to common opponents, with the obvious one in this case being your No. 5 and No. 6 teams, Tennessee and Oregon, both having lost to the same team?
“As a committee I think we’re looking at the game itself, and is it more one-sided. From our standpoint, it’s not this one was X number of points and this one was X number of points from that standpoint. You look at the overall game, the flow of the game, and making sure that we’re doing the evaluation on the overall big picture as opposed to a late score or an early score, that type of thing.”
Would the committee say that both those games were one-sided? (Tennessee at Georgia, Oregon versus Georgia)
“Yes, I would say so.”
So Tennessee needs to be pulling for an Oregon lost because if they win the Pac 12 championship they could easily leapfrog Tennessee because Tennessee did not even win their division and Oregon has really been playing great football since that first loss.