While I would agree Arkansas is much stronger team than Colorado along with Bama compared to UCLA, however, I think you are underestimating the Pac 12 as a conference as a whole. UCLA has been a colossal bust, but that was mainly due to the unrealistic pre-season media hype of being a playoff team. USC has been a bit of a disappointment, but they can easily right the ship and find their way into the playoffs if they win out, which is a big "if", but they would be a hell of a story going on a nice run to close the season including wins over Utah, UCLA, Notre Dame and a conference title win over Oregon.
Teams like Arizona, Arizona State, Utah and California have exceeding expectations at this point, Colorado has a pulse for the first time in a while, Washington State has shown flashes. Pretty deep conference and the second strongest IMO, a hair above the Big 12. With the state of the ACC and B1G, the Pac 12 winner should almost be an auto representative in the playoff, even with two losses.
Teams like Arizona, Arizona State, Utah and California have exceeding expectations at this point, Colorado has a pulse for the first time in a while, Washington State has shown flashes. Pretty deep conference and the second strongest IMO, a hair above the Big 12. With the state of the ACC and B1G, the Pac 12 winner should almost be an auto representative in the playoff, even with two losses.