I could actually see a scenario where Alabama AND Georgia make the CFP. CBS and some commentators on ESPN are trying to make the case that both should get in over Texas (who beat Alabama) and Florida State, or even in over Washington.
I don't think it's likely, but I wouldn't be surprised.
The one thing I will say is, I think, when they expand the CFP, the Power Five (or is it power four now?) conference champions should get automatic playoff berths.
As I alluded to earlier too, what happens between Southern Methodist and Liberty is consequential as well. If they give Liberty a New Year's Six bowl game or one of the higher bowl games and put SMU in some Toilet Bowl Game, even with the CFP expansion, they're telling schools to schedule against cupcake opponents like Liberty did.