Ohio State was clearly beatable (and remains so). But they also played Oregon better than we did considering that game was in Oregon.
It was additionally impressive for the Ducks to cross three time zones and win that game in the Midwest. They actually had a pretty lucky road schedule given Michigan was so down, though they almost lost to what turned out to be an equally down Wisconsin team. This was their best win besides Boise State which was at home and early.
They probably can't see the Ducks until the final, if they are a 6 or 7 seed. I doubt they would drop to 8, which would mean a rematch in the Rose Bowl (or an upset in the first round), and they won't be 5 because Texas was already ahead of them and lost in OT.
We'll see what kind of chaos the new format brings. I could still see it going chalk (Oregon-Georgia) depending on the Bulldogs' QB situation.