FIU was a likely W for IU this season and means they would need to win 4 games to get to bowl elgible.
After the FIU game, they have Georgia State (a very good G5 program) and they have one of the hardest stretches in the B1G with @PSU, Michigan, @MSU, @ Maryland, and Whisky before finishing against Illinois, Rutgers, and Purdue. They likely needed that game against FIU to have a greater than 40% chance of getting to bowl eligibility with Maryland looking incredibly sporty this season and MSU's defensive resurgence (haven't allowed an offensive TD yet). Tough to lose that game and I think had it happened to Purdue, we as fans would likely be clamoring for some type of fix to help the team or a waiver to get to 5 instead of 6 wins...but the fact is that there are more important things in the grand scheme of things and likely 60% of FIU's roster is from Florida, and those kids need to make sure their friends and family are ok first. Not to mention, they have been in Birmingham and not in their usual setting to prep for a game.
What likely ends up happening is that IU gets to 4 wins with the bucket game whereas Purdue may be at 5 as well. Had IU not had the cancelled FIU game, it likely could have meant a game for a bowl bid. It still could if both teams get to 4 wins and not enough bowl bids get handed out to 6 win teams.