Couple things here:
Iowa State has basically decided that total enrollment is more important than their academic reputation, which has tanked badly in recent years. They function as more of a diploma mill than a university these days. The school is struggling financially as well and really it can't handle the students it does have. The student experience there is taking a huge hit - in some classrooms there aren't enough desks for the students enrolled in class and the student to teacher ratio in classes has ballooned.
In addition, If you want cheap tickets at ISU football games, consider that regular folks can sit in the student section, which extends into areas of the stadium which other schools sell at a premium. It's not hard to get these tickets - I have personally taken advantage.
I think some people on this board think that there is some sort of demographic destiny for Des Moines and Iowa State. Keep in mind, Iowa City is less than 2 hours away from Des Moines and the Iowa City/Coralville/North Liberty, and Cedar Rapids/Marion DMA's are very close and also growing prodigiously. Iowa's population growth and population center continues to be on the East side of the state. Iowa, not ISU, is in the better position long term in this regard.