Central Florida's best win was Memphis. They played Austin Peay, Florida International, and @ Maryland in the non-con and had games against Georgia Tech, Memphis, and Maine cancelled. Had UCF played 4 non-con games against mid-tier or better power 5 schools, and gone unbeaten, then they would have a much better argument, but Maryland was terrible, FIU was an ok CUSA school, and Peay is an FCS program. That just isn't going to cut it.
If a lower 5 conference school wants to have a realistic shot they need to play 4 road games against power 5 programs and they shouldn't be dregs either. Replace Peay with a team like Oregon, FIU with a team like A&M, Maryland with a team like Iowa/Purdue, and play that Ga Tech game that was cancelled, then they would have a much stronger argument. That would be 4 road victories against mid-tier power 5 programs (spread across the country). Add in the USF and Memphis games and that is a respectable enough schedule that they might have earned a shot especially in a year like this (i.e. where there were 3 deserving teams and they had to pick 1 other team). If they really want to strengthen their cause they should replace one of those mid-tier games with a game against a good program like a Virginia Tech, Michigan, Oklahoma St., Washington, South Carolina, etc. or even one of the "great" programs like an Oklahoma, Ohio State, Alabama, etc.
This is the SEC conference strength argument in reverse, i.e. your conference isn't good so you have to stack the non-con to get a respectable schedule.