That is assuming that ISU loses to iowa every year they miss a bowl and that they will win every game they play in place of iowa. The first has been proven wrong and the second is unlikely considering some of the losses ISU has accumulated in the last few years.
I'm not sure I'm tracking this. I thought you said, when ISU loses, it's unlikely to cost them a bowl game. I said, I'll always take another win even if it doesn't get us to a bowl.
If we are scheduling correctly, we should be able to substitute a school that we will beat far more frequently than the .500 batting average we have against Iowa over the past 20 years or so. This program needs all the wins it can get. The in state game is fun enough, but not worth sacrificing a win every other year (at best). Just my opinion.
Edit - just for the record, my preference is 2 years on, 2 years off with Iowa. That allows everyone to get their 7 home games.