How does that compare with wins over the likes of Vanderbilt, Ole Miss, Miss. State, Washington, etc.?
This is all circular reasoning. Perhaps the Big 12 North was seen as bad since they lost a lot of games to the south.
If I'm a team that is objectively the 11th best team in the country, but am 0-10 because I lost to 1-10, will I be considered the 11th best? Probably not, and some of the objectively (remember, this is theory) 1-10 won't be considered that high because one of their wins was against an 0-10 team.
Ratings are, at best, an educated guess.
Sorry, I'm not following your point.
"Ratings are, at best, an educated guess."
Agreed.