Eh. I don't think it's that simple. If Iowa wins, they will be conference champion in a league that will likely have four top-ten or twelve-teams and is probably the best in college football this year. The difference between #13 and #4 simply represents how little of a chance the media and committee think they have to win today.
Yeah but Ohio State is ranked higher and they'll go with that.
The conference champion thing will be more like winning a conference tournament in basketball.
Also and Notre Dame and Baylor.