Absolutely not, in my opinion. Florida State, Alabama and Oregon were unquestioned in everyone's eyes. The only debate was Ohio State, TCU and Baylor. Among those 3, TCU had the best resume but Ohio State had the media. While Ohio State seems to have proven it was the best team, the season/resume has to define the initial 'best' teams, then they play it off. Best or hottest team does not always win.
The playoff should be 8 games, then you are pretty much guaranteed to get the 'best' teams, by any metric (paper, resume, hottest, etc.). But this year, for the 4 teamer, the committee got it wrong. Bad start for this era. I liked the BCS better.