Several times throughout the season I have heard people talk about whether or not PSU belongs ranked so highly or whether we even belong in the playoff (ridiculous!). We have no quality wins, have beaten only 1 ranked team (Illinois), lost to the only "good" team we played against with our strength of schedule being 32. However, I noticed that Texas, currently ranked ahead of us, has no quality wins, no wins against ranked teams, lost to the only "good" team they played (Georgia), and have a strength of schedule of 38, but I haven't heard anyone say that Texas shouldn't be ranked so highly or that they don't belong in the playoff. In fact, that team will more than likely be in their conference championship game. I will admit that I am not following Texas as closely as PSU, so maybe people are saying that about them and I just don't hear it.
Another issue I have is with Ohio St. People want to argue that they are the best team in the country (even though the lost to Oregon). People look at their schedule and say they have two quality wins (i.e. PSU and Indiana) but most of these same people are the ones saying that PSU and Indiana are so overrated. They can't have it both ways. If we (us and Indiana) aren't any good then we can't be Ohio St.'s quality wins. If we are their quality wins, then they have to admit we are pretty good.
My only criticism of an expanded playoff is that there will always be people complaining about who got in and who didn't. In the BCS days #3 complained. The last couple of years #5 complained. Now teams 10 - 15 or so are already complaining that they deserve to be in. There are 64 (or 68) teams in the NCAA tournament and there are still complaints about teams who didn't get in.