If what you are suggesting above is true, then yes, there would be a real inequity in play. But reality doesn't line up with what you're suggesting. Understanding that team rankings aren't synonymous with NCAA seeding, it's fair to say they're at least a reasonable indicator. So let's look at them for a few teams:
Iowa - best record in the B1G with certainly one of the harder schedules in the B1G to date. they are ranked in the top-5
Purdue - in the middle tier of conference SOS with an identical overall record as Iowa but whose best win is less impressive than Iowa's best. they are ranked in the top-20
IU - in the lower tier of conference SOS to date, with 1 overall win higher than Iowa, and 1 overall win less than Purdue. they are ranked BEHIND both Iowa and Purdue as a top-25 team
If what you were suggesting above was true IU would be looked as being better than Iowa and Purdue because of the easier schedule to date that they have had. But they aren't. And that's because not all wins and losses are created equal, and the (reasonably) educated people that do rankings and tourney selections are fully aware of that, thus the reason NOBODY just looks at overall record or conference record and says "well, that's that, there you go".
Short answer... incredibly whiny, and your fear related to seeding seems - to me - to be borderline irrational.