Gee, several points to make here . . :
First of all, the parallels with 2011 Alabama are strong. Ohio State is certainly one of the four most qualified candidates to fill the available playoff slots at this time, but all that does is prove we have more available slots than we have qualified candidates . . .
Second, 'the Big Ten champ' and 'the winner of the Ohio State/Michigan game' are only likely to be different teams if Ohio State wins the Ohio State/Michigan game. If Michigan wins, they will likely be the Big Ten champ . . .
That said, there does seem to be a consensus at this time that Ohio State will make the playoffs. Ofc, there are still games to be played. But from my perspective, I would also be heartened by Ohio State's inclusion as it would restore some of the meaning to the regular season that was destroyed by the 'conference champions' requirement . . .
But I also agree with you that including Ohio State would destroy what little legitimacy the playoffs have. Ignoring a terrible loss like Ohio State's loss to VaTech in 2014 was bad enough, but this would be the playoff basically saying that the best way to determine a champion is by having a playoff, then ignoring the results of a regular season divisional race, which is nothing if not a playoff. It's kind of absurd . . .
I still think you're off-base on the Pac-12 and Big XII champs though. If either Washington or WVU ends up as a one-loss conference champion, there is no way Ohio State goes in ahead of either of them, if only because of the weight the committee gives to championships won . . .
Finally, I also think these weekly ratings are a load of crap, just as we have seen in the first two years. We won't know what the committee is actually going to do until those championships have actually been won, in the few days before the final ranking is released . . .
Oh, one other thought. If Ohio State does get in, it better be as a second Big Ten team. If Ohio State gets in at the expense of the actual Big Ten champ, my head just might implode . . .