It is what it is. We'll never play them tomorrow, but I'll tell you as someone that does this every day that we'd be about a 1-2 point favorite over them if we did play tomorrow. We lost to them in OT so neither of us moved much, they then beat Purdue which gave them a bump, and followed it up getting thumped by Michigan which dropped them back to where they were heading to Chicago.
I'm guessing that you didn't expect us to be a 3 point favorite last Thursday (I had it at 1, but expected it to be 2-2.5 with the $ PSU had been taking as of late).
Who cares whether PSU would be the favorite over X, Y, or Z? Getting it done on the court is what matters, not what some oddsmaker thinks.