No, we don't.
I do think in a way it's honestly hurting more than it's helping.
While I think there is a portion of the fanbase that is obsessed with Iowa and certainly does circle the game, IMO the bigger problem is the casual fans. I think ISU has a great core of absolute diehards. I think there are about 30k-35k diehard fans that will purchase tickets and attend games even if we went 2-10 the next 5 years. I think there are about 20k more people who will buy tickets and attend as long as we don't suck balls.
There are more people than that in the area that are interested in the Clones and would love to see a game, but absolutely will not care if they think we won't be good.
Here is where the Iowa game is a problem IMO. There are years like last year, where we get a nice bump because of the Iowa game win. We won a very exciting game against an Iowa team a lot of people thought would be pretty good. It's a game that even the most casual of observers was watching. I think it has a positive effect on attendance and fan excitement through the rest of the season as a result, although I've never really checked the stats.
However, if we get our butt kicked, I think that's a cue for the casual fans to tune out. We got beat by Iowa, we obviously aren't on a competitive level with them, so we probably won't be good this year, wake me when next season starts.
IMO the positive feelings have a much better chance to exist consistently if we play 3 cupcakes all at home before conference play. The fans get to see their team play, there is positive media coverage/word of mouth, and everybody is happy with their team.
The best era in ISU football was the 70s, when we won at a high level within the conference, and went to bowls when it actually meant something. That also coincided with not playing Iowa.
I don't think not playing Iowa will automatically return to that, but I think the chance is better and I don't know why ISU fans are afraid of that possibility. As much as the 6 wins to a bowl thing is borderline embarrassing, I'd like to see a 4 year period where we hit that mark every year and have all the players experience that those extra 15 practices going into the bowl games every year. I want to see what kind of effect that can have on our program.
That said I'm a dual fan (although I obviously swing way more to the ISU side) and the game honestly isn't that much fun for me. I enjoy to win, I enjoy well played games when they happen, but I hate the office smack talk and the fact somebody has to lose.
Edit: holy crap this is long.