No, it's not that simple.
Cal lost to USC, the number 1 team in the country. Traditionally, the Pac 10 and Big 10 play in the Rose, before the BCS got to it and loused it up.
Stated simply, Texas cried on the kneecaps of the sports writers, and the press being mostly liberal, refused to acknowledge that Cal was a stronger team this year.
By your logic, Texas shouldn't have lost to whoever they lost to this year either.