He's not saying it's likely, or even plausible. But the chance is still non-zero. I have to agree with /u/jthomas694 about this kind of stuff, even if the chance is minuscule, a system that allows the possibility to be there so obviously has a design flaw. The CFP was built partially in reaction to 2011 Oklahoma State getting left behind. The size was too small to allow the scenario of three equally good teams getting in.

If the CFP changed to be 8 teams with conference championship bids there would eventually be a situation where a 12-1 team could be left behind while multiple 9-4 teams could be in it. Of course it's not a likely situation, but why should there be an opportunity for such a failure?