The main case against Pitt was lack of quality wins (one top 50 against Stanford), and a poor OOC schedule. The main case for them is they have basically beat everybody they have played outside of the top 50 (a few exceptions) and they have no bad losses. Even the losses they have are mostly top 25.
So
- Less quality wins than other bubble teams (although the mix of top 50 games they played was high)
- Much better against average and bad teams.
To me they are in. They guaranteed they will not have a "bad loss" this year after beating Wake. No other bubble team can say that. Many have 2 or more.
Historically two factors that separate the bubble are:
1) Top 50 Wins
2) Committee will punish bubble teams that did not schedule well.
The problem is they can get a double punishment. Pushed to the bubble because of lack of 50 wins, and then eliminated purely because of their OOC schedule. And the committee has dismissed bubble teams purely for this reason in the past.