Yes but if those two teams face each other, it hurts their chances. I would say the winner of the iowa/tOSU game have a shot but the loser does not.
Really, because if Texas had lost, there were people considering a Florida vs Alabama NCG.
If Iowa and OSU are ranked #2 and #1 when they face each other, and there aren't any other undefeated teams (especially out of the SEC or other BCS conference), you can still have an Iowa v OSU NCG if Iowa wins. It happened when #1 and #2 Michigan faced off in The Game a few seasons back. It's highly unlikely though.
Anyway, we're deviating from the original question though. I think the question was 'how can Iowa have the easiest road to the NCG, but not be heavily favored to win their conference and go undefeated?'.
Again, I feel the author of that list is assuming that the only real tough test Iowa will have is OSU, who we have the fortune of playing at home. Other teams will face tougher opponents and most likely face more than a few of those opponents on the road. So, one tough test at home vs many tough tests on the road. Which would be easier? That's what the author's saying.