I don't believe it's that far fetched. I'm not going out on that limb because there are certainly some challenges to overcome. For instance, while I'm super big on this defense in the long term, a lot of the guys that need to play well to transform this defense don't have much experience and a lot of the guys at those positions that do have experience may not be quite the right fit for this scheme.
While Nebraska has challenges, the others in the division share much of those. A lot of new coaches and QBs could either level the playing field or give one or more teams a sizeable edge. Northwestern is safe to say likely out of the conversation, but the other 6 teams all can make at least a decent preseason argument for why they could win the division if things if things went well.