Sorry but the bolded is way overstated.
I always wonder about this.
The # of people partying and spending money in Ames/IC who don't go to the game absolutely dwarfs any other game of the year...but if you had two home games in both towns on the same day would not the net economic revenue be the same or greater?
I guess it's hard to calculate when you aren't automatically replacing this game with a home game, it'd be a conference game most likely if CyHawk goes away which would only be at home half the time.
I think a lot of these non conf rivalries should consider an every other year or every four years event type of schedule, especially if somehow a conference goes to only 2 non-conf slots. Look at the Olympics, World Cup, Ryder Cup, etc...it can actually make it MORE intense and special. The key is that there's still a set schedule and rhythm to it. Don't just randomly play one game, then play again in 5 or 9 years.
With three non-conf spots I think it's silly to talk about removing the every year rivalry, but if it goes to two I think anything but a an every other year or every 4 years schedule would be a big missed opportunity as opposed to just ending it or having it a once a decade type of thing.