I think the rankings currently reflect what each team has actually done on the field during September and October (and not what they are projected to do in November). When the end of the season rolls around and Washington has (potentially) a conference championship and A&M has none, we can discuss what each team has actually done at that point - and likely the rankings will change.
I think the committee is also sending a message that strength of schedule is important. Washington is playing the fourth-easiest schedule in P5 conferences while A&M is in the top ten most difficult. This is also why Baylor will never make the playoffs with their joke of a schedule. This is also why they have, and may continue to, allow multiple teams from the same conference - they are not going to punish a team for playing in a tough division nor reward a team for winning a weak or "down" conference. They are trying to select the four best/toughest teams in CFB.
Agree with it or not, I think this philosophy is great for the sport overall, and especially for the fans. No one wants to watch Baylor beat up on Incarnate Word or the East Texas School for Deaf Girls. They want to watch top teams compete against each other. One team has to lose, but if they play them well (like A&M leading Bama halfway through the 3rd quarter before making some costly mistakes), they can remain in it. I hope this raises the bar for the matchups we get to watch as fans.
