your quoted text doesn't seem to have room for interpretation in regards to top 4 champs receiving byes. It would imply that Georgia(or #2 sec) or Notre dame cant be placed into the bracket higher than 5th and thus could never get a bye with the 4 top conference champs being placed 1 through 4.I'm not disputing that. Read what actually said.
lets take the rankings from December 5th of last year .
NCAA College Football Playoff Rankings | USA Today Sports
See the weekly NCAA College Football Playoff rankings from the selection committee, including Top 25 and the biggest movers of the week.
www.usatoday.com
if these were the rankings and the 12 team playoff was in for last year, I interpret the text above to mean, the only other way to interpret is putting pitt and Utah at 5 and 6 and sliding at larges down 2 spots each the bracket would go like this:
1-Alabama(Sugar Bowl)
2-Michigan(Rose Bowl)
3-Cincinnati(Peach Bowl)
4-Baylor(orange Bowl)
5- Georgia
12-Pittsburgh
____________________________winner plays Baylor
6-ND
11-Utah
____________________________winner plays Cincinnati
7-Ohio State
10-Oklahoma State*
____________________________winner plays Michigan
8-Ole Miss
9-Michigan St *
____________________________winner plays Alabama
* 2 teams flipped to avoid conference matchup in opening round, after that conferences matchups are allowed.