If things go the way they are currently, you will have the following.
ACC - One loss Clemson or Undefeated Miami
SEC - One loss and one undefeated, Georgia & Alabama
B1G - One loss Ohio State or undefeated Wisconsin
Big 12 - One loss Oklahoma or TCU or OSU
PAC 12 - One loss Washington or someone with two losses
Notre Dame - One loss
ESPN is the one who created this playoff system. If the above happens, or even if the Big 12 champion is out with two losses, I seriously doubt Notre Dame will make the playoffs. They will use the same 13 data point argument with them that they used on the Big 12. And I think it will be done to try and force Notre Dame into a conference.
Motivation: Notre Dame helps ESPN sell the ACC Network into markets. They can negotiate a deal with NBC in carrying some ACC games and get Notre Dame away games and maybe one home game, some of which would be on the new network. To get to sixteen, ACC has to add one more team and you take someone from the AAC thus lowering their market value just as they are in new contract negotiations. Forcing Notre Dames hand could save ESPN money. While there would be backlash, again the Playoffs are under contract with ESPN for several more years. A push by the P5 to go to a larger playoff requires ESPN support. So a good deal would be struck be ESPN either way, by having a reason for excluding Notre Dame from the playoffs.
Again my opinion, and there may be flaws that I do not know about.