When the Committee votes in their weekly polls, each voter will put there own criteria on different things. A voter may reward a team for playing a tough OOC schedule and decide to ignore a soft conference schedule. A voter may reward a team for playing a tough conference schedule and decide to ignore a soft OOC schedule. Another voter may reward a team for a tough loss. While another voter may treat all losses equally.

The ACC and Big Ten currently require their members to play 1 OOC game against another P5 school. The ACC even has the Notre Dame requirement. I forget if the other 3 P5 conferences have that requirement or not. Given 4 of the 5 P5 conferences have their own network, I don't see that requirement going away if the OOC schedule suddenly become "meaningless." The networks will still want quality content to justify the payments to the conferences. Also, you will continue to see P5 participate in made-for-TV neutral site games because the money is too good to pass up.