Elite teams are Clemson, Bama, Georgia, maybe Ohio State/Oklahoma. These teams get to lose 1 game and are still in the 4 team playoff. They get to lose 3 and still make a 12 team playoff just because of past years results/name recognition.
Take Georgia as example how did they become elite? Won SEC multiple times, won NC.
Georgia is still in 4 team playoff if they lose to LSU tomorrow. If it was South Carolina or even Tennessee they would be out with a loss. That makes them publicly elite to me.
UCF to get there needs to win. Be like Oklahoma was, win 8 of 10 CCGs in the Big 12. 1-2 gets you to TCU Baylor status. Where you cant lose to make the top4. But now it's 12. So UCF may not need to win the CCG. But they will need to make 2+ deep tournament runs. Winning earns credibility. Be the next dynasty.