I was thinking a similar thing. This may begin to change as we move into the playoff era. Four teams have a shot at a NC instead of just two. Strength of schedule is considered by the selection committee. We are seeing fewer and fewer seasons with more than 1 undefeated team (if any).
It makes me wonder if teams will schedule more challenging matchups and not worry so much about going undefeated when you see 1 loss and potentially 2 loss teams in the playoffs. I don't think cupcake games will disappear completely, but there might be fewer of them.
I also think if a match up like this happened, it should be the opening weekend. That also would minimize the impact on a loss missing out on the playoff.
Imagine this opening weekend featured.....
FSU / OSU
GT / Northwestern
Pitt / MD