It's very unlikely that a team can win the comp from 5-8 under normal circumstances. To win, the comp from here, you have to win 4 games against teams that have shown they are the best all year. If your team has the ability to do that, however, you probably would've been in the top 4.
I remember that back in the days of a 5-team semi final system, it was often said that a team coming fourth or fifth couldn't win. For those of you can remember (personally, I'm trying to forget), the donkeys beat us in the GF in 1993 for the second consecutive year, and here's how the teams finished:
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Now that donkeys team was great, and even though they came 5th, they were only 1-point outside the top three and 2-points from the minor premier. In a very close competition, a great team ultimately did what was thought "impossible" and won four consecutive games to clinch the premiership. The rorters could do it as well, because they are a very good team whose performance do not match their ability. After all, we beat them on ANZAC Day
and they have also lost other games they probably should've won, so their current position does not necessarily reflect their ranking in terms of quality, just like the donkeys in 1993.
It is not impossible, just unlikely.