A three tight end set, I think, requires, one bruiser H back type who can motion in and be a lead blocker if need be, one traditional inline TE who can block and catch, and one stand up TE who is really just an overgrown receiver. I agree with this notion that this is an unusual set and may be hard to prep for on short notice. But, so is a T formation or a single wing. A gimmick is not a foundation for an offense. But, it should be in the arsenal.
The trend in college football, including at Iowa, is to spread the field, not tighten it. 3 TE sets bring 8, maybe 9 guys into the box. It is tough to run in that much congestion. And, we run.