Would still happen again.
If Oregon, Ohio State and Auburn all finished the year with one loss, Oregon and Ohio State would meet in the national championship game, regardless of strength of schedule or quality of their play.
As much as I love my university, fact is, we do not have the prestige of an Alabama, Oregon, Ohio State, Florida, FSU, Nebraska, Texas, Michigan, Penn State, USC, Oklahoma or (gag) Notre Dame. Those schools are going to get the media support. As they told us in 2004, big-name school vs big-name school "is the matchup the nation wants to see." We're not the only school to have experienced it, but we have experienced two of the most egregious examples (1983 and 2004).
Even with it being Auburn, I disagree with your premise. This year, one loss Oregon, one loss Ohio State, and one loss Auburn. Game would be Auburn and Oregon.
Not saying that it hasn't happened in the past, but Ohio State's name is certainly not helping it in the polls.