I was curious about the magic of undefeated teams in the CFP and looked it up. Of the nine champions five were one loss teams even though up until this point all power 5 undefeated teams have been invited. 14 total teams invited were undefeated and 22 were one loss, so that makes sense, but it seems that there is no particular distinction in having the undefeated record from a success in the playoff view.
I believe Fl. State only played 3 teams that were ranked at the time they played (some had been ranked and dropped out of the top 25 before they played them). LSU, Duke, and Louisville. So 2 3-loss teams and one 5 loss team. I might still put them into the playoff just based upon precedent, but wouldn't expect them to win. However that means the 2 time defending champ that only has one loss in 2-1/2 years is out, and probably so is Alabama. So 2 one loss teams that have won 5 of the 9 CFP championships between them and have only lost to other one loss teams will be left out from the conference that has won 2/3rds of the CFP championships, or Texas will be left out even though they've beat a one loss team and their only loss is to a team with a better record than any of FSU's opponents.