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I think the point is that everyone would feel better about (potentially) the #4 team in the nation not being in the 4 team "playoff" than with (arguably) the #1 or #2 team in the nation being excluded from the national championship game. Yeah, Miami, Fla State, or some non-BCS 1 loss team could argue that they should have been in the 4 team playoff, but there's an easy counterpoint that they had their chances & blew them.
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