They had similar records but that doesn't mean they were the same at the end. Going into the bowl season the past two years, Iowa State has been ranked higher in almost every single poll. Two years ago we were ranked longer throughout the year and we played a 10-2 #25 Memphis team in a better bowl game than what Iowa played in. Last year we were ranked longer throughout the year and played in a better bowl game against a 10-2 #12 Washington State. Iowa beat Iowa State both years sure, but you can make the case that Iowa State was a more quality football team at the end of the year both years.
The above post is almost a complete 180 from what you posted less than 2 hours ago:
I'm not necessarily talking about Iowa State vs. Iowa.. it's every team. Any team can beat anyone on any given day. If Iowa beats Iowa State this year, that means they were better than Iowa State that game. If Iowa ends up having a similar overall year or better, they were a better team no doubt. I'm saying just because you lose to someone, it doesn't necessarily make them the better team.