It's never about raw number of losses. It's all about quality wins, and how they weigh against the bad losses.
Seven losses isn't too many for a 2 seed if most of those losses are to top teams and if they have better wins than the other teams in contention for a 2 seed. That's why I think it might take SC upsetting a Mississippi State or (gulp) UConn to make it happen.
@vowelguy
I looked back over the past 10 years to see if the data support your claim and the data do.
Here are the pre-NCAA tournament losses for 2-seeds over the past 10 years (40 seeds total from 2009-2018 with 4 teams in each of 10 years).
1-loss: 2018
2-loss: 2011, 2013
3-loss: 2009, 2011, 2013, 2014, 2015, 2016
4-loss: 2009, 2010, 2012, 2014, 2014, 2015, 2016, 2016, 2017, 2017, 2018
5-loss: 2009, 2010, 2100, 2011, 2012, 2013, 2015, 2017, 2017
6-loss: 2012, 2014, 2016, 2018, 2018
7-loss: 2009, 2010, 2011, 2013
8-loss: 2012
9-loss: 2015
(Sorry, I was having trouble generating a table.)
Under the scenario I mentioned (9 losses for South Carolina), it seems unlikely but certainly possible for them to make the tournament (as you both suggested). It happened once in 40 seeds (10% of the years).
The mean number of losses for a 2-seed is 4.7 with a standard deviation of 1.7. So I roughly considered anything below 3 losses or above 6 losses to be an outlier, giving us 9/40 instances, which seems fairly high (22.5% total).
Low loss outliers
Baylor 2018: Only had 1 loss but lost in the Sweet 16 (underperformed)
Xavier 2011: Only 2 losses but lost in the 2nd round (vastly underperformed)
Duke 2013: Only 2 losses but lost in the Elite 8 (performed at expectation)
High loss outliers
Kentucky 2015: Had 9 losses and lost in 2nd round (vastly underperformed)
Tennessee 2012: Had 8 losses and lost in the Elite 8 (performed at expectation)
Texas A&M 2009: Had 7 losses and lost in Sweet 16 (underperformed)
Texas A&M 2010: Had 7 losses and lost in 2nd round (vastly underperformed)
Notre Dame 2011: Had 7 losses and lost in NC game (greatly overperformed)
Kentucky 2013: Had 7 losses and lost in the Elite 8 (performed at expectation)
So of the 9 outliers:
1 overperformed
3 performed as expected
5 underperformed
Caveat: I didn't check to see how the middle-of-the-pack 2-seeds performed (i.e., teams with 3-6 losses during the regular season) so I cannot yet say whether the outliers underperformed compared to 2-seeds in general.