I'm guessing it was set up that way for a WEAK conference.
The Big 10 or 12 (whatever they're calling themselves now) is arguably the best conference in football right now (never thought I'd be able to say that with the SEC around), and PSU is that conference's champion. This is why I've stated that more than 4 teams need to be able to qualify for the "playoff".
Hey, I'm a PSU alum. At the end of the day, would I be happy if PSU made it to the playoffs? Heck yeah. That said, as mentioned, my life does not revolve around football, and a game that makes ton of money has NO affect on my life. There are more important things in life... that said, I do think more teams should be included in the playoff system if you want ONE true "national" champion.
Did feel VERY old last night. I can remember watching Archie Griffin playing for Woody Hayes. They don't make great college football coaches anymore who stay for the school and what it means to them. They seem to stay for money nowadays.