Um yes it does. Iowa is one of the top 32 teams this year. They were barely one of the top 68 teams last year. Where you finished compared to the other teams you compete against does matter. No matter what way you look at it they were better. They won more games while playing a TOUGHER schedule. They had more impressive road wins that last year. They won 6 conference road games (I don't care who they are against, they haven't done that since '87). They were 8-9 against top 100 RPI teams this year, they were 7-11 against top 100 RPI teams last year.
The only reason this schedule was tougher is because where the really bad teams that we were a lock to beat were ranked. Our conference schedule was way weaker this year. We got blown out by all of the top teams we played except 1. The team tanked bad last year and still ended up only 1 game worse.