True, but:
If OSU is not in the CFP, would mean USC beat Utah.... making Utah a 4 loss team (could also mean UWash in the Rose - not sure how that would shake out).
Maybe more impactful, vav OSU, is that it if it was Utah, it would be a rematch of last year's game (which was not well received by OSU fans the first time around).
In any event, it doesn't sound like OSU fans are particularly enamored with a trip to face any of the potential P12 matchups in Pasadena (given their recent history, I couldn't blame them). OTOH, I think PSU fans would be quite happy with a trip to the Rose Bowl (over spending the Holidays in Dallas - which is also an expensive trip for NorthEastern folks).
Sounds to me like a win-win (assuming OSU doesn't get into the CFP, which I would still put at better than 50-50)