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I don't disagree . . . now.  I'll also add that this is extremely unlikely to be relevant to Ohio State.  That said, IF Ohio State somehow manages to win back-to-back games against Michigan and Northwestern it is certain that, at that point, Ohio State will look better than Washington State.  
I'll add the same thing wrt Oklahoma.  IF they manage to beat WVU and (probably Texas but possible WVU again) in back-to-back games they will, at that point, look better than WSU.  
IMHO, among the potential 1-loss P5 Champions (excluding Bama and Clemson on the assumption that they will be undefeated and Georgia on the assumption that Bama will beat them) the order is:

• Michigan
• Oklahoma (but possibly Ohio State if the Buckeyes won big while OU was winning ugly)
• Ohio State
• Washington State

No, I agree with that.  Oklahoma and Ohio St have a little more meat left on their schedule.

No, I agree with that.  Oklahoma and Ohio St have a little more meat left on their schedule.

I'd apply the same thoughts to UCF.  I think they are too high right now but I don't much care that they are ahead of Ohio State at this point.  However, if by some miracle the Buckeyes manage to win the next two weekends then after that it would be patently ridiculous to rank UCF ahead of Ohio State.  UCF's best win is over a 9-2 Cincinnati team.  If they win out they will pick up wins over 7-4 (then 7-5) USF and either 9-3 (then 9-4) Houston or 8-4 (then 8-5) Memphis.  Meanwhile Ohio State would pick up wins over 10-1 (then 10-2) Michigan and either 8-4 or 7-5 (then 8-5 or 7-6) Northwestern.  UCF would have a grand total of zero wins over ranked teams while Ohio State would have:

• A win over current #4 Michigan which would drop to about #10 at 10-2.  
• A win over current #12 Penn State which will finish ranked about #10 9-3 or about #17 at 8-4
• A win over current #19 Northwestern which would finish ranked about #24 at 8-5 or unranked at 7-6.  

Same goes for Oklahoma.  If the Sooners win out they'll have multiple wins over ranked teams and be 12-1 while UCF can do no better than 13-0 with MAYBE one win over a ranked team (if Cincy gets back in).  

UGA has a weak slate this year.  Their ONLY shot is somehow 12-1 and beating Bama.  Maybe there is some weird situation where they could lose to Tech, but I doubt it.

 
IMHO an 11-1 Notre Dame would finish behind all undefeated and 1-loss P5 Champions.  

Multiple sites are now thinking that 11-1 ND would stay ahead of 12-1 OSU because of our piss poor offense and inconstant run game.

well, I'll just root for a 28 point win by the Dawgs over Bammer

nothing flukey about it

But I still think it was strange that in 2016 that 11-1 OSU was picked over the Big Ten champion 11-2 PSU, a team that also had beat OSU H2H.

Would it be fair to make a differentiation between a "bad loss" and an "embarrassing loss"?  
A bad loss is losing to .500 team or or worse; ie. a team that should have no business beating a National Title Contending team. The committee doesn't seem to penalize that much for bad losses.
An Embarrassing Loss is getting blown out by 4 scores or more. ie. looking really bad while losing a game. I think the committee has knocked teams hard enough to keep Embarrassing teams out of the playoff.
Penn State in 2016 had an embarrassing loss to M*ch*g*n 49-10, and they were kept out of the playoff.
Ohio State in 2017 had an embarrassing loss to Iowa 55-24, and they were kept out of the playoff.
Both times to a "better looking" non champ.

But I still think it was strange that in 2016 that 11-1 OSU was picked over the Big Ten champion 11-2 PSU, a team that also had beat OSU H2H.

I hope you don't think I'm being homerish here because I a consistent advocate for "body of work" over H2H.  Another issue that comes into play here is HFA which I consistently assert is a bigger factor than most people give it credit for.  
Both of those come into play in the 2016 situation.  First, Penn State's entire body of work was indisputably weaker than Ohio State's.  The Nittany Lions had more losses (two vs one), worse losses (both were worse, Pitt because of the opponent and Michigan because of the score), and less quality wins.  Second, the H2H was a close game on PSU's home field.  
Finally, I hope that the CFP committee values SoS.  I certainly think that they should.  In 2016 that was another factor in Ohio State's favor.  The Buckeyes owned a road win over the B12 Champion Oklahoma Sooners and had tougher B1G-W cross-overs than PSU.  
I like the way the CFP committee has generally treated H2H because it is what I do when I do my Power Ranking votes.  I use it as a tiebreaker of sorts for teams that are close overall.  However, it is not the end-all-be-all.  It can't be because then you inevitably run into the A<B<C<A conundrum.  For example, in 2016, Penn State beat Ohio State, Ohio State beat Michigan, Michigan beat Penn State.  
If Penn State had beaten the Panthers or been reasonably competitive with the Wolverines then they probably would have gotten in ahead of the Buckeyes.  If they had done both then it wouldn't have even been a discussion.  They didn't and consequently their entire body of work was not close enough to Ohio State's to bring the H2H "tiebreaker" into play.  
The situation at hand might be similar to the 2016 tOSU/PSU situation.  Assume:

• Bama beats Auburn, and
• GaTech beats Georgia, and
• Georgia beats Bama in the SECCG.  

Georgia would be SEC Champions but have two losses:

• By 20 points at LSU, and
• To a mediocre (at best) GaTech team

Bama would not be a Champion but they would have a decent case based on manhandling their schedule.  The weakness in Bama's argument is that their SoS wasn't very good.  Their OOC turned out to be complete trash and their two SEC-E opponents (TN and Mizzou) were two of the worst three teams in the SEC-E.  Their best two wins would be LSU and aTm.  If aTm wins this weekend then Bama would have two wins over ranked teams but those teams would be ranked ~12-17.  If LSU wins then Bama would likely finish the season with only one win over a ranked team.  To their credit, their loss to Georgia would be a really "good" loss.