I don't think PSU beats Bama (and if that is an argument for Bama being in the field then so be it).
Franklin makes his living beating up on lesser teams, they almost never lose to an inferior team. That's why I think they beat Arizona St easily.
However, play a team with even talent/coaching (or better talent/coaching), they are only winning that game in fluke scenarios (like the Ohio St game a few years ago). Anyone that can match PSU's raw talent (Georgia, Alabama, Ohio St, Texas, etc) is going to beat them because Franklin isn't 'out-coaching' anyone.