If you know anything about college football it's pretty apparent from an eye test that tcu completely outclasses Baylor--herbsreit agrees as well.
The eye test, that is the problem with the entire system and why there needs to bid automatic bids for conference winners. Take this out of the hands of the committee and let them play the games on the field. Yes, to the eye, TCU looks better than Baylor and would probably beat them most times if they played again but on that one Saturday Baylor won and that is all that should matter if they have the same conference record. The playoff should not be the best teams on paper or who some random committee thinks is worthy, it should be decided by winning your conference, and by any objectionable means, if Baylor beats KSU they won the B12 conference and should trump TCU.