Texas shouldn't make the playoffs. Yes, Texas defeated 3 teams that finished 10-2 or better: 10-2 (6-2 SEC) Oklahoma, 10-2 (6-2 SEC) Vanderbilt, and 11-1 (7-1 SEC) Texas A&M, but they also lost to 4-8 (2-6 SEC) Florida, who lost to South Florida at home. Losses to 12-0 (9-0 Big 10) Ohio State and 11-1 (7-1 SEC) Georgia were understandable, but a loss to Florida was inexcusable and should prevent Texas from making their 3rd consecutive CFP appearance.
If Texas did not play Ohio State, they would have still had to play a Power 4 nonconference team. It's remains an SEC requirement even when moving to 9 conference games. Texas' only argument is they could have scheduled a weaker Power 4 nonconference teams like Purdue, Rutgers, Wisconsin, Boston, College, or Stanford to meet the requirement and get the 10th win.
There are 6 SEC teams that finished 10-2 or better: 11-1 Georgia (7-1 SEC), 11-1 (7-1 SEC) Ole Miss, 10-2 (6-2 SEC), 11-1 (7-1 SEC) Texas A&M, 10-2 (7-1 SEC) Alabama, 10-2 (6-2 SEC) Oklahoma, and 10-2 (6-2 SEC) Vanderbilt. 5 of those 6 teams all won their Power 4 nonconference games, and the only exception was Alabama's 31-17 road loss to 5-7 (2-6 ACC) Florida State.
Alabama was left out of the playoffs with a 9-3 (5-3 SEC) regular season record because they got embarrassed 24-3 by a 6-6 (2-6 SEC) Oklahoma team. Likewise, Texas is punished for losing to Florida, not for losing to Ohio State.
If Texas did not play Ohio State, they would have still had to play a Power 4 nonconference team. It's remains an SEC requirement even when moving to 9 conference games. Texas' only argument is they could have scheduled a weaker Power 4 nonconference teams like Purdue, Rutgers, Wisconsin, Boston, College, or Stanford to meet the requirement and get the 10th win.
There are 6 SEC teams that finished 10-2 or better: 11-1 Georgia (7-1 SEC), 11-1 (7-1 SEC) Ole Miss, 10-2 (6-2 SEC), 11-1 (7-1 SEC) Texas A&M, 10-2 (7-1 SEC) Alabama, 10-2 (6-2 SEC) Oklahoma, and 10-2 (6-2 SEC) Vanderbilt. 5 of those 6 teams all won their Power 4 nonconference games, and the only exception was Alabama's 31-17 road loss to 5-7 (2-6 ACC) Florida State.
Alabama was left out of the playoffs with a 9-3 (5-3 SEC) regular season record because they got embarrassed 24-3 by a 6-6 (2-6 SEC) Oklahoma team. Likewise, Texas is punished for losing to Florida, not for losing to Ohio State.