As mentioned it’s on multiple factors. First a disclaimer. Since the CFP began only OSU has qualified, expect last year which was Michigan. And since it’s only a 4 team playoff structure it’s not even apples to apples comp anyway.
As to PSU since 2014 have went to 3 NY6 bowls. Michigan has went to 3 also. Wisconsin has also went to 3. Both Michigan and PSU have won 1 B1G title in the same time frame. For the record the 2016 PSU title was a 38-31 win over UW
Football revenue UM $201m, PSU $101m, UW $87m
Recruiting footprint? That’s obvious