You're just eliminating the argument for statistical probability in its entirety. That's fine as a fan, but won't help you get to the reason for the line as a bettor.
Please note that as a fan, I tend to agree with you on NU; some of their design *is* to play close games and their gameplanning requires talent, hard work, and preparation.
But that's like a small smidge of a factor in the line. Every decent team has talent, hard work, and preparation.
Again, if this game was at Ryan Field and was a pick 'em line, I don't think we'd even have this thread about "lack of respect." But the line currently reflects that this is almost exactly what the line would be if these two teams played at Evanston in August, so we're really only debating this because posters don't understand how lines are made.