The fans on both sides obviously will be desirous of a win. LSU's path to the playoff goes through Alabama, and probably Georgia, win or lose.
I think Texas "perceived pedigree" gets fuzzier with a loss even if they go 12-1 if other teams are 12-1 out there. Just my notion, I could be wrong of course, won't matter if I am. LSU is at $6 and Texas at #9. If we presume a say 24-17 loss for either, I'd expect LSU to drop to about 13 and Texas to about 18. If Texas lost again fairly soon, folks might conclude they are not back, that was my point. If LSU lost, well, they lost to a tough SEC opponent, like say Arkansas.