Sure we would. Let's say last year Iowa scheduled USC instead of North Texas and lost that game. Iowa making the playoffs would still come down to the BigTen CCG. If Iowa beats MSU, they still go to playoffs.
The question is which team does Iowa want to be. Do you want to be Stanford who scheduled NW and lost, and missed the playoffs. Or do you want to be Baylor or TCU in 2014. Who were co-champions of the Big 12, and both went 11-1 but missed the playoffs that year. Baylor missed because they played nobody in ooc. Heck TCU even played and beat a decent Minnesota team and that still was not good enough.
You simply don't want to run away from tough competition and expect to make the playoffs.
And to be honest with you, I don't want Iowa to make the playoffs unless they honestly earn it. They really need to prove to the committee, and college football fans in general, that Iowa truly is 1 of the 4 best teams in the country. Otherwise they don't deserve it.
These weak schedule type of arguments are the same type of arguments the Big 12 tried to use to avoid adding a CCG. They said, oh we might lose, It can hurt our chances of making the playoffs, etc. Well you saw how that worked out. Stop being a bunch of cowards. Man up and play some real competition to prove you really deserve that playoff spot.