As people have mentioned, I think there definitely was an overestimation of people wanting to pay for both games. We all see everybody's teams and how they're doing, these 4 teams aren't a mystery to anyone. And quite frankly if somebody wanted to go to Iowa City to see a game that ISU wasn't in, they could. Iowa is big, but not that big. And Des Moines isn't a novel or exotic location to Iowans, so the city isn't specifically a draw.
If people were going to pay for the whole weekend, then it would need to be a tournament. Two games Saturday with a consolation game and a championship on Sunday. I know this doubles the number of games, probably cutting into their revenue.. but I feel like it's the only way to have people want to go there for just these 4 teams and stick around. Plus it then actually sets up a state champ.
Of course the major issue with that idea... is the CyHawk game. Are people going to be cool with the potential of another ISU v UI game? Maybe people would enjoy that on a neutral site, who knows. Cause the regular CyHawk game isn't going away.
You could invite other regional schools, as well.. but that isn't gonna draw TV money, so you still have to rely on ticket sales. For that you'd have to invite national schools, at which point it's just another early-season invitational bball tournament trying to vie for eyes.