It's the same reason they built a shrine for a relatively meaningless regular season win over UK...
or why the Bloomington phone book's front cover was a picture of "The Shot" (lol)...
or handing out rings for making the SWEET 16...
You're seriously going to cut down the nets for ensuring yourself at least a piece of the B1G??!! Seriously?
They haven't won anything of significance in over two decades and they're desperate for something to celebrate.
I know a couple old school IU fans and they're actually embarrassed that IU puts on such dog and pony shows for such lame "accomplishments." A program that has 5 national championships SHOULD be above such silliness.
As an addendum, I think Crean does it because he sees it as a way of ensuring his own job security. I mean, how can you criticize a coach when his team just cut down nets?
It's startling how many IU fans buy into these "accomplishments" hook, line, and sinker.
IMO, all this celebrating may very well end up coming back to bite them in the ass in the tournament because it contributes to the players having a false sense of accomplishment and feeling content because of that.
IU still has a decent shot to win it all, IMO, but it's looking right now like they peaked a couple months too soon.