That Bowling Green game is going to make our ranking an interesting situation all year (assuming we move into a spot where we actually contend for rankings). Very few top 25 teams will have a loss to a team that bad, so voters are going to have to decide how they weigh that against the other factors. There is a fair argument that, if beating a really great team is a huge boost to your ranking, then losing to a really bad one should be an equally big hit to it.
We also have two related problems as of right now: (1) only one game against quality peer teams and (2) the only such game we do have was against a team who wasn't thought very highly of when we played them (I agree with whoever said this is unfair, and voters should consider the current rankings of your opponents, not their ranking when you played them). We are 0-1 against really good teams, 1-0 against a solid team, and 3-1 against bad teams. So, our resume is as follows:
-no wins against anybody great
-weren't able to beat all the bad teams
-aren't really getting full credit for a road win against a good Purdue team because their win against Iowa happened after we played them (which I think is BS)
I also agree with everyone who says as the season plays out, this will all sort itself out. Our next three games are against bad (but still P5 B1G) teams. If we lose to any of those teams, we probably don't deserve to be ranked at that point, and if we beat them all, then we are getting into the territory where it is tough to ignore a B1G team with only two losses that late in the season. At that point, Iowa and Wisconsin will be the "prove it" games.