Two teams are locks for #1 seed right now, Virginia & Villanova. They are a combined 28-5 vs Top 100 competition (RPI).
KU is not out of the race for a #1 seed which sounds crazy but its true. 17-6 against Top 100 is the most wins and most games played against Top 100 competition in all of D-1. If they won the last 4 regular season games and won the Big-12 tourney there is no way they are not getting a #1 seed at 28-6. I can't see a team that potentially wins the Big-12 regular season, tourney championship and the resume they will potentially have not being rewarded. Of course the road to get their is difficult. Most likely they end with a #2 seed which was their seed line in the initial reveal.
What does the committee do with Michigan St. They have a 26-3 record and have had the easiest schedule of any Power 5 team in history. 11 wins against 150+ opponents. They have only played 11 teams all season in the Top 100. In the initial Top 16 reveal they were a #3 seed which was surprising but at the same time who have they played? They have no bad losses which helps them. Avoiding the loss to Northwestern who played the best half of their life and the worst half of their life all in one game was essential to a #1 seed. They could get one by default because their record and reputation. Michigan St is just 2-3 vs the top 50. The Big 3 in the Big-10 (Mich St, Purdue, Ohio St) is a combined 10-11 against the Top 50. It looks like the Big-10 has very overrated teams on resume. Don't get me wrong St & Purdue have very good squads to the eye and Ohio St has had a great bounce-back season.
So who else? Xavier still has a great chance despite being blown out by Villanova twice. No bad losses, lots of quality wins overall. If they take care of business to end the regular season and say upset Villanova in the conference tourney final they would be the most likely next #1 seed. Even if they lose to Nova again they should be rewarded. However we all know reputation matters and Xavier wouldn't be a "sexy choice".
With Virginia a lock its hard for Duke or UNC to get a #1 seed. Duke is in a similar position as Michigan St, weak resume overall, just 11 games against Top 100 competition. Beating Clemson on the road minus Bagley helped them. 3 of the next 4 are at home and they get the payback UNC game to end the season. Duke would have to win the next 4 and win the ACC tourney and have KU lose along the way.
UNC is in a similar boat. The bad loss against Wofford really sticks out. They have to win out in the regular season and have a good conference tourney. Their resume keeps them in the hunt but they can't lose again it looks.
Purdue doesn't have a #1 seed resume unless they win the Big-10.
Auburn isn't a #1 seed candidate, much less a #2 seed.