Exactly. It's not a knock on ISU, it's just the fact that this is a $$$ move for the Big Ten, and with the small population base of Iowa, and weak TV footprint, it just wouldn't make financial sense.
BUT, when you take into play the academic side, it could make some sense. ISU ranks in the top 5 as far as research disclosures and licensing of technologies. It also does really well as far as getting major grants. If you consider more than just TV sets (academics), then ISU should be in play. Not that I think it's going to happen.