Yeah, and that is exactly my point. You are too hung up on the particular school. What is more relevant, especially in the case of Louisville making the playoffs, is where these teams are coming from. If you have an SEC champ who is 12-1, that team is likely making the playoffs, thus taking up a slot. If you have Big Ten champ who is 12-1, that team is also likely making the playoffs. It doesn't matter if it's Alabama or Texas A&M. That's a spot taken either way.
Let's just hypothetically say at the end of the season, you have 12-1 Tennessee (SEC champ) vs. 11-1 Michigan (non-champ). The odds are, Tennessee gets in over Michigan. If you have 12-1 Ohio St (Big Ten champs) vs. 11-1 Louisville (non-champ), again the odds favor Ohio St getting in instead.
As is stands now you have several P5 teams that have a chance to win their conference with 0/1 loss:
ACC: Clemson
Big 12: Baylor, West Virginia
Big Ten: Michigan, Ohio St, Nebraska, Wisconsin
Pac 12: Washington, Arizona St, Utah
SEC: Alabama, Texas A&M, Tennessee