Any win we get in the upcoming season is something to build on. A lot of fans including myself, were excited about Gundy possibly being UT's coach. A win would make most UT fans feel better about the CJP hire.
If we end up in the Liberty Bowl against OK State, then it means we did better than expected, and OK State has dropped to 4th in the Big 12.
Though, with Texas looking to have a much better season in year 2 under Herman, and Matt Campbell working magic at Iowa State, I'd say there's a chance that Gundy might be looking at his team being 5th or lower in the conference.
We now probably know who we will not be playing or where.
I looked at last years's CBS preseason Bowl projections done by Jerry Palm. Out of the 39 bowl games that he projected, even with the benefit of conference tie-ins to most of the bowls, he predicted correctly only one matchup (NW vs Kentucky in the Music City). He also predicted correctly only 9 of the 78 teams in the correct bowl (Army in the Armed Forces which was already arranged, Toledo in the dollar general, Iowa in the Pinstripe, Navy in the Military, Stanford in the Alamo, NW/KY, Washington in Fiesta, and Bama in the Sugar).
So, Palm had only about a 12% rate placing teams in a bowl, and less than 3% success rate predicting the actual matchup. A pecking chicken could probably fare better. My guess is that other predictors have similar "success" rates.