Here's my take on the difference between how the fan base of each school views the game:
For us Iowa fans, it's an incredibly important game not to lose. It's a hurdle early in the season that needs cleared. When Iowa wins the game, it moves on immediately because who gives a rip about beating a bad Big 12 team. It doesn't define the season and it certainly doesn't save a bad season. Iowa going 6-6 with a win against ISU does nothing for me as a fan. I would rather Iowa beat Michigan or OSU. It's not great to beat ISU, it just sucks losing to them. I personally would rather take ISU off the schedule and put a traditionally better power 5 team on it.
For ISU fans, it appears to me it's an incredibly important game for them to win. It can define the season, even a bad one, for ISU. I've seen ISU license plates personalized around one particular Iowa game. Seriously. Several of them exist. This is not trying to be a knock against ISU. If Campbell gets things going ISU fans will evolve to where Iowa fans are, which is looking to the bigger picture. Iowa is not an elite team in the Alabama sense, but it has shown it can have elite seasons. If Campbell gets ISU going 8-4, 9-3 on a consistent basis and is able to get wins against the OUs of the world every now and then, the Iowa game will become less and less important to them. I'm certain any ISU fan would take their win against Okla. State against any Iowa win any day of the week. But those "big wins" don't happen enough - the Iowa game will always be more important for ISU fans to win until they can get over the proverbial consistent success hurdle.