Did we expect BYU to be a top 5 team this year? If not, then you knew they were going to have 2 losses. You probably assumed they would have lost a game we ended up winning in the first 5 so it's not that big of a deal that they lost one they should have won to offset that.
There's a 94% chance there will be a second loss before the end of the season - IF they are a RANKED team. If they lose to Baylor and win out, they will finish with 6 straight wins and most likely climb back towards the top 15-20.
If they beat Baylor, there's a decent chance we could have a special season - one with only one loss. We're going to end up in the top 10 if that happens - again, based on past precedent based on the fact that there's still a LOT of losing to go on for ranked teams before the end of the season. And, if that happens, we're going to be in a NY6 bowl.