Well this is... unexpected?
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ESPN's Football Power Index (FPI) has drawn the ire from viewers in the past plenty of times, but the latest update to the metric might be its most controversial yet. Despite a 31-point loss to Iowa on Saturday, Ohio State maintained their No. 2 spot in the FPI.
You can go here for a comparison to last week's FPI.
ESPN's FPI assigns a point value to each team based on how much the rating views them as an above (or below) average team. While Ohio State technically got worse in the pure rating from last week (28.4 down to 24.5), no other team really improving in the metric meant that Ohio State — and Penn State as well despite their loss to Michigan State — both maintained their positions.
So yes, Ohio State and Penn State — both with two losses now — are still ahead of Georgia, Notre Dame, Clemson, Oklahoma, Miami... you get the idea.