My understanding is that the AAU significantly discounts USDA funding. Land Grant colleges know this very well. Therefore, leaning more into agriculture may not provide the university with proportional reputational "returns". Not to mention, being a "top ag university" doesn't exactly make potential students swell with excitement. Not that that matters, it's just well known that ag research can be looked down upon by some of the general population.
ISU needs to find a way to do more medical research. If a medical school isn't happening, our science departments need to find more ways to partner with research hospitals. ISU scientists are producing great research, but partnership with physicians and hospitals is a must. And I'm not sure we can limit ourselves to leaning on U of I Hospitals and Clinics researchers.
Last year, the Carver College of Medicine received $128.6 million in NIH research grants.
Their athletics budget (at least before COVID hit) was to be $124.8 million.
The crazy thing about that? They are 48th on the list. Harvard is #1 at $1.6 billion with a "B."
Iowa State's total operating budget is in the $650 million range (depending on COVID impacts).