I would not say that Facundo is a "good bet" to AA. It's certainly possible, but I would characterize his chances as "very questionable", with the following rationale."Slightly worried" is fine. Nothing is written in stone, and Iowa has a very good team. Iowa should have all 10 weights qualified for the tournament, which is already one better than PSU. All 10 could also conceivably be AAs at their ceiling, although guys like Teske and Siebrecht are longshots, so the odds they actually have 10 AAs is virtually zero, but breaking it down, they have 2 favorites to win (Spencer and Woods), 2 more almost certain AAs (Cass and Kennedy). Then there is a tier of 3 who are very likely in the mix for AA (Murin, Assad, Warner) and a tier of three who could AA with a good run but probably not (Brands, Teske, Siebrecht). When you add all of that up, they will probably get 7 AAs (Spencer, Woods, Kennedy, Cass, 2 from the likely group, and 1 from the less likely group). That's a lot of points, especially for a second place team.
On the PSU side, we have 5 guys who are serious contenders for champs (RBY, Starocci, Brooks, Dean, Kerk) and a 6th who has an outside chance to win (Haines), but only Brooks and RBY are as strong of favorites as the two Iowa guys. We'll get a goose egg from 125 and qualify 9 weights. Outside of the 6 contenders, Bartlett and Facundo are a good bet for AA, SVN less so. So, the most likely outcome, lets say 4 champs (conservatively allowing for one or two contenders to falter) and 8 AAs, compared with expectations for 2 & 7 for Iowa. Given that Spencer is a bonus machine, it's conceivable that, if we underachieve just a little and they live up to their expectations or overachieve just a little bit, it could get a little too close for comfort. If we end up with 3 champs, 7 AAs, and a goose egg at 125 and they have 2 champs, 8 AAs, and maximum bonus points at 125, it's going to be tight, real tight.
Most likely, of course, it'll be a fairly comfortable win for PSU, especially considering that PSU is generally the overachiever in nationals, but it's not a certainty by any means.
[1] 165 is a very tough weight class
[2] Facundo has trouble scoring against the top guys. For him to advance, he'll have to win at least a few matches where a single TD, escape, or ride-out is the difference. Some guys can do it, but that's not a great recipe for a deep run.
[3] Adding to #2, Facundo has appeared rather disinclined to put a tough ride on any opponent that I can recall. That's not helpful when you'll be in a lot of close matches.