This year looks like it might be the closest Indiana could get to a Big 10 Championship Game: a win here would have putting them in the lead in the conference by a game plus a tiebreaker with games remaining against Maryland, Wisconsin, and Purdue.
Actually, the more I think about it, this was probably the school's best/closest scenario/situation at anything like a CFP berth or national title shot as well: a win over #3 OSU probably would have jumped them up and into (or just outside of) the CFP discussion picture, with games remaining against Maryland, ranked Wisconsin, Purdue, and the ranked winner of Wisconsin/Northwestern.
It's still looking to be one of the best teams they're ever fielded and a year they will likely be proud of by the end of it, but boy does that leave a lot on the table for a school that doesn't get a ton of these types of scenarios in this sport. (That fumble before halftime really leaves quite a damper on the season)