That team lost 9 games, only beat 3 ranked teams all year, lost 7 games to unranked teams and bowed out to an incredibly mediocre IU team.
Sorry, but you discredited your position when you called that IU team "incredibly mediocre."
That IU team was like 27-7 going into that game, had won the Big 10 regular season title, and EVERYONE had expected them to be a far higher seed, and were shocked that they were seeded so low (seemingly to set up that marquee IU/UK first weekend matchup).
That was a caliber opponent that we normally don't see until at least the sweet 16 or Elite 8, but that year the NCAA cleverly arranged it so we'd meet up the first weekend.