Here is some math:
Tomorrow: -306, or 75.3% they beat the Saints. Based on other money lines there is a 7% chance the three things that I mentioned happen and the Panthers don't get in even with a win. So you have about 70% chance the Panthers get into the playoffs. So Wil isn't exactly going out on a limb there, but...
Round one, I will be charitable and say they will be just +130 dogs, about 3 point dogs in Green Bay in all likelihood. Small chance they would end up elsewhere, but considered that factored into the +130 price, or 43.5%
Round two and three, lets say they play both Atlanta and Philly for ease. They will be maybe +200 dogs in Atlanta and I would say +250 dogs in Philly, subsequently 33.3% and 28.6% chance of winning.
Do the math now: 0.70*0.435*0.333*0.286 = less than 3%, or about 35-1. You would have to be nuts to bet 10-1 on this team with this in mind. Maybe a few breaks go their way, but there is almost a zero chance they get a home game. Winning 3 road games in the playoffs, playoffs which they haven't even qualified for yet and people are willing to take 10-1 and 12-1 on it? No wonder why bookies have it so good...