I've seen more than a few sites with that prognostication. I'm betting that they are simply assuming that the loser of that game gets the invite to the Rose Bowl. After learning more about the Rose Bowl's selection process, Stewart Mandel quickly retreated from "Iowa to the Rose Bowl if it loses to MSU" tweet and changed it to "B1G team with highest CFP ranking will get Rose Bowl bid."
While I much prefer an Iowa win over MSU and advancing to the "Final Four," if there has to be a consolation prize awarded, my preference is Rose Bowl #1 with a Fiesta Bowl against ND as a very, very, very, very close #2.