I hate Iowa more than the next guy, but even that is depressing to me. Not them losing, but just a decrease in passion and interest in the game within the state.
I was looking at current attendance for Iowa, ISU, KSU, KU, Neb, Missouri and Minn...which is somewhat of an indicator about streaming viewership. It's the area I grew up around so that's what I know.
Even with KU dragging it way down, KU/KSU/ISU get about 50-45k in the stands between them. If they are demoted down to what becomes MAC interest level that becomes more like 12-20k each. This is the big question...how far does interest drop, does it drop at all? Is non-P2 as irrelevant as the MAC is nationally?
Iowa, Neb and Minn are not set up to be powers in the new power 2 unless they have an ideal coach in place. I don't think their attendance and streaming interest increases either if they are traditional bottom half teams. Iowa has found a way to consistently win in B10W...if divisions go away and 3-4 teams with more advantages get added that becomes harder even if their coaching stays stable, let alone they hire a dud or average coach.
I think Iowa can only go down in terms of competing with this new 38-48 team structure. Right now they're good within it (not great) but they aren't set up to withstand a bad coach or two in a row. Nebraska is already struggling and losing interest for the first time ever, adding more power teams won't help that. The money will give them freedom to hire and fire coaches limitlessly, but that instability can hurt too.
I just look at the whole region and don't see how this really helps anybody but media companies short term and exclusively NFL long term.