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If you manipulate the bracket to avoid 2 teams from the same conference playing in first 2 rounds. 

Key is the top 4 teams can't change.  #5 to #8 can be flipped but they must stay in #5 to #8 range so that they still get a first round home game. #9 to #12 can be flipped but must stay in #9 to #12 range so that they play on road in first round.

1.  Ohio St
2.  Ind
3.  Texas A&M
4.  Bama

The projection that they released is an "as of today" version but the reality is that CCG's are going to be played so Ohio State and Indiana are not going to both end up undefeated.  

I think a better assumption (and this still assumes a lot) is that the B1GCG and SECCG winners will be the 1/2 seeds while the losers will be the 3/4 seeds.  Ie, Ohio State and Indiana are NOT going to be the top two seeds.  

why can't the top 4 teams be manipulated?

Good question.  Not a big difference between #2 and #3 I guess.  Except #3 usually plays #6 and #2 usually plays #7.   But if you are flipping #6 and #7 anyway,  maybe its easier to flip #2 and #3 instead in some cases.

The only time it might matter is in the choice of bowl games.  If #2 and #3 both want the Sugar Bowl,  for example,  then the Sugar should probably go to the original #2.  I guess you could still flip #2 and #3 and still give the Sugar to the original #2,  whichi is now the #3 in the re-rank

Ugh, my head is starting to spin.

Ok let's try this again.  Lets manipulate the bracket to avoid 2 teams from the same conference playing in first 2 rounds. 

#2 and #3 can be flipped but the original #2 must get its choice of bowl before the original #3. .  #5 to #8 can be flipped but they must stay in #5 to #8 range so that they still get a first round home game. #9 to #12 can be flipped but must stay in #9 to #12 range so that they play on road in first round.

1.  Ohio St
2.  A&M (originally #3)
3.  Indiana (#2)
4.  Bama
5.  BYU (#7)
6.  Georgia (#5)
7.  TT (#8)
8.  Ole Miss (#6)
9.  Virginia (#11)
10.  Oregon (#9)
11.  Memphis (#12)
12.  Notre Dame (#10)

1st / 2nd round

12 Notre Dame @ 5 BYU / winner vs 4 Bama
11 Memphis @ 6 Georgia / winner vs 3 indiana
10 Oregon @ 7 TT / winner vs 2 A&M
9 Virginia @ 8 Ole Miss / winner vs 1 Ohio St

So essentially all the first round matchups are exactly the same as before the re-rank which is why the new seeding from #9 to #12 probably seems weird.