No. The committee tries to use an S curve. So the overall #1 would be in the same bracket as the last #2 (#8). If we are the highest #2 seed (#5), we would be in the lowest #1 seed bracket (#4).
But there are a lot of factors (conference teams not running into each other, BYU not playing on Sundays, travel considerations, etc) that cause tweaking. So you don't get an exact S curve.
Fo example, I would not be surprised at all if a #2 seed ISU was placed in the same bracket as a #3 Nebraska, irrespective of S curve considerations. They just love to do drama stuff like that.