Iowa had a realistic shot at a football national title in 2009 until Stanzi went down. Just as much of a shot as isu bball.
They're different animals, the 4 team playoff probably doesn't help not just Iowa, but the Big Ten in general's chances at NCs.
In basketball it's pretty clear ISU '00 and '14 had the best shot the state has seen in a while (since the olson/raveling/early davis years) ISU finished ranked #3 in '00 and was in the top ten of the final AP poll this year. In football '02 Iowa and '09 Iowa had a legit chance with some different breaks. Going forward those same football teams would have needed the same breaks, then beat two likely southern football powers. Consider the USC bowl loss hypothetical round one because that could easily have been a 2/3 seed game.
I think Iowa's basketball NC chances might be better than their football one with the direction things are going.