Absolutely!
Here and now ... without it, bowl game odds fall significantly. Purdue is the only game after NwU with a better than 50/50 probability of winning.
Opportunity ... Hawks need to seize a gift. Were Colter and Mark healthy and both playing, NwU would nearly score at will on this slow defense and its sub-par backfield. Iowa's bowl chances would already be <20% because of the NIU and MSU losses but, since those guys are hurt / out, they have a decent chance to make up a W.
Perception ... Even with Colter and Mark, NwU is a team that Iowa should beat 7 (8?) of 10 seasons, not be 3-6 against since 2002! That's a little how Fitz has lifted up that program but more a reflection of how far Iowa has fallen under Kirt. With Colter and Mark both out, Kirt has to get Fitz's reverse monkey voodoo hex off his back and finally beat a team that he should. It would be an(other) embarrassing loss to inferior competition if NwU, sans their two best players, find a way to beat Iowa, in Kinnick, no less; it would further cement Kirt's legacy as one of the worst game-prep, seize the opportunity to win coaches in the game.
I'd like to think Iowa wins 34-17 but Kirt and Dave will somehow fail to accelerate out of half, Fitz will, once again, out-coach Iowa and make this more of a nail-biter than it ever should have been -- 28-24, Hawks.