Who would you like to play instead? The last 5 years Drake and UNI have both been top 100 NET teams. That is moderately helpful for Iowa's NET rating. What top 100 NET teams would you like to play instead? Would those teams come to Iowa City for a buy game? Or are you proposing that Iowa replace Drake and UNI with typically lower NET teams? Unfortunately, Drake and UNI both suck this year. If that were to become a more permanent state of affairs, then a big part of the benefit of playing Drake and UNI would go away, in which case Iowa might need to rethink things.
Regarding money, aren't Drake and UNI both low-cost travel options that give Iowa a road game to help them prepare for more challenging road environments? Relatedly, correct me if I'm wrong, but my understanding is that Iowa doesn't pay Drake or UNI to come to Iowa City, because they get a return game at their place. Iowa currently pays $40,000-$45,000 for buy games (last year Toledo and Washington State cost Iowa $40,000 each). So if Iowa replaced Drake and UNI with 2 home buy games, that would cost Iowa $80,000+ for likely inferior opponents that would hurt Iowa's NET rating. Not sure that helps the bottom line or the resume.