It does when you lose. A team starting at #20 and losing mid-season isn't going to make the playoffs...a team starting at #5 and losing mid-season still has a decent chance. No one is saying that starting low prevents you from making the playoffs, but common sense says starting higher significantly increases your ability to survive a loss.
It depends on who the loss was to and who you beat later in the season. Lose to a highly ranked Oklahoma early then blow out the rest of you schedule and you will climb back up. IMO
If you start at #20 and lose at Oklahoma, you're likely out of the rankings, or #23 at best. Start at #5 and lose at Oklahoma, and you're likely around #10. Not sure about you, but I like my chances of making the playoffs running the table from #10 much more than I do running the table from #23 or worse. Again, it's not whether or not it's possible for a low-ranked team to eventually make it, but rather whether or not it's better to start lower than higher (as @TampaBuckeyes claimed when he said "the lower the better").
How many teams will have the "opportunity" to play the #6, #18, and #6 teams (CFP ranking at game time) in the final three games? They were #12 headed into the first of those three games (Baylor). So, OK, fine...a team ranked #20 and losing its 5th game of the year could make the playoffs. Still doesn't change the fact that starting higher in the polls is always better than starting lower...
