Uh, no. Minnesota has a quality 2017 resume thus far, including winning at UT, return a very nice lineup, including an AA setter. They'll be in the mix again to host a regional this year.
RE: #2 Penn State. They defeated Stanford twice this year (neutral sites) already, I'll admit that was a little surprising how Nebraska dispatched with PSU. Save, Simone Lee, they looked flatfooted and disorganized. Nebraska likely has a mental edge on Penn State's roster now, as they've had their number like nobody else.
I would expect another season of musical chairs at the top of the rankings. Hosting a regional is still the ultimate prize.