Well those numbers are also from 2020 so they wouldn't reflect revenue from the new B1G TV deal signed in 2022, which increased TV revenue ~150% for the conference, nor revenue from the expanded playoffs. The TV revenue alone for the conference went from $440 million to north of $1 billion annually. That adds 10s of millions of more revenue per school. They could very easily be at a profit now considering they were near breakeven before.
Even if they're still losing $4 million, it's still well worth the cost given the marketing athletics provides them. They couldn't buy the publicity they receive at that cost. I'd say they're still spending responsibly. It's the programs like JMU, Florida State, Rutgers, etc that make you scratch your head wondering WTF are they even doing.
Purdue I suppose would be another example that I didn't think of before about being responsible, but jumped out when looking at what you shared.
Edit: According this this article Iowa athletics is self sufficient. It did borrow $50 million from the University during the covid year, but has been repaying that loan.
https://www.thegazette.com/article/hawkeye-athletics-sets-another-revenue-record-while-isu-uni-struggle/