The three best teams in the B1G are OSU, Michigan St. and Wisconsin. IMO, there is a significant drop off after those three.
OSU is good, but they've only beat one team currently ranked in the Top 25: Wisconsin.
Wisconsin has been winning games big, but they have only beaten two teams with winnning records: BYU and Iowa. They lost to an Arizona St. team that got manhandled by Stanford and also lost to a mediocre Notre Dame team.
Michigan St., the 2nd or 3rd best team in the conference, lost to a mediocre Notre Dame team.
I don't think anyone knows how good OSU is and if they could compete with Bama and FSU. Wisconsin and MSU lost to some marginal-to-good teams in ASU and Notre Dame in the non-conference. If two of the top three teams lose to ASU and Notre Dame, it tells me the conference isn't that good, and the rankings are probably justified.