Houston never belonged in the CFP mix in the first place. That conference plays zero defense. Same for Texas Tech who gave up almost 50 points to West Virginia at home last week. They should have dropped out of the rankings after that performance and would have at least 2-3 losses already in a down Big10 this year. They'll probably give up 50 again today.
I will say the same for Iowa should they lose a game given their last 3 opponents. If you can't beat the likes of Purdue, Illinois, and Debbie you don't deserve a shot. If they go 10-2 they earned it.
Next year inclusion in the CFP will be the equivalent of a mid tier bowl game with 24 teams participating. It's really Nebraska's only hope of ever participating.