Lunardi dropped them to a 2 seed this morning albeit the top 2 seed. I suspect dropping the game at Arizona will drop them further down the 2 seed line. Drop any others along the way likely will result in a drop to a 3.
Other teams will lose as well. A single loss to Arizona won't drop them too far, unless every other competing team goes perfect.
A loss at Utah or against ASU likely drops Iowa State to a 3 seed, but even a loss at home to Tech probably doesn't.
If Houston wins at Kansas and wins out, they would jump is.
If Illinois beats Michigan and wins out they jump us, but I doubt they beat Michigan.
If Purdue wins out, they would jump is. They could, but do have a couple of tough home games.
If Florida wins out, they would jump us. The definitely could, but their schedule isn't a cakewalk. Home against Arkansas and road games against Texas and Kentucky.
Kansas winning out means Houston loses.
Gonzaga winning out maybe does it. Probably jumps a 2 loss Iowa State but wouldn't jump a 1 loss Iowa State.
Nebraska won't win out
If Michigan State wins out, then Purdue won't (and Michigan potentially isn't a #1 seed lock.
Obviously conference tournament comes into play, but going into that, a 25-6 Iowa State only drops to a 3 seed if Purdue, Illinois, Houston and Florida all win out. Possible, yes. Likely, no.