If you are saying that Wisconsin and PSU have been on the cusp of making the playoffs, you could argue that Iowa and Michigan have also been on the cusp of making the playoffs.
In 2015, Iowa went into the Big Ten CCG with a 12-0 record and ranked #4 in the CFP. Iowa lost the CCG to MSU 16-13, when MSU scored the winning TD with 42 seconds left. If Iowa stops MSU on that last drive, Iowa goes to the playoffs instead of MSU.
In 2016, Mich lost in OT to OSU. If Mich would have won that game, odds are good they would have made the playoffs if they go on to win the CCG. Heck, Mich also lost to Iowa in 2016 on a last second FG. If Mich wins that game, they also have a chance to make the playoffs.