This. It doesn't matter much at this point. If a 12-0 Iowa beats a 12-0 Ohio State, Iowa will get the bump. Iowa will get the same bump with a win over a 10-2 Michigan who is in the title game.
Narratives take a while to break. Iowa is forcing its way into the conversation by winning. But Iowa will not get the benefit of the doubt like other teams who have been good for a while (see Alabama, Stanford, Oklahoma, etc.). And that's almost to be expected. I guess what i don't get is the amount of vitriol/dislike displayed by some of these media types for Iowa. Not just ranking them lower, but going beyond that denigrating Iowa. I thought sports were all about what is possible? A team that exceeds beyond expectations. Some of the talking heads act as if this playoff is some sacrosant thing that holds the world balance of power. If Iowa wins out, it will deserve to be in the CFP. If they are left out, then you might as well call it a figure skating competition where only a select few at the start of the contest have a shot at winning.