No it's not. It's the 4 best resumes (i.e. what you did during the season).
"Best" can be defined too many different ways. What you do on the field must count. Thus far, all Alabama has done is beat us and Ole Miss, and lost to Texas A&M. Yes, it's tougher than Cincinnati's schedule but they are also undefeated.
It's a national championship, not an SEC championship part 2.
Yes. It is. The playoffs are supposed to be the 4 best teams in the country, same as the BCS was the best 2. And it worked pretty much every time. How you figure out those 4 is the problem. If the 4 best teams in the country are all in the SEC so be it. Like I said earlier, this was put together by the big 10 and pac 1 to make sure they had a big say in things. To put Cincinnati in the top 4 would be an absolute joke.