Yes, but they have looked very impressive beating the crap out of every opponent thus far.  The do have a 42-0 win over a ranked team.
I think a team that consistently blows out mediocre to bad competition merits consideration as being a great team.  I think OSU would be favored over everyone aside from LSU on a neutral field right now.
I see the Dawgs are a slight favorite at Auburn.  Huh.