The schedule looks as favorable for us to reach the conference championship game as it does of anyone else. Maybe better than anyone else as we’ve played the toughest part of our schedule and some contenders haven’t.
So if we accept that our hardest remaining game would be the conference championship, it would be better for us to have Iowa State be undefeated. If we both get to that game undefeated then either with one loss will probably still make the playoff at 11-1 with only one loss to a top-10 team.
If we don’t make the championship game, then it doesn’t really matter anyway. We won’t make the playoff.