It's hard for me to measure how "iconic" the Bedlam rivalry is. Does College Football Nation really care about it?
From my perspective, it's a game that OU plays every year (usually near the end of the season) and nearly always wins. When OU wins, there's not much to brag about, as that's the norm. But when oSu* wins, Poke fans crow about it for years.
I suspect that the Pokes are secretly glad to see it go, even though the only time they sell out their 55,000-seat stadium is when Bedlam is played in Stillwater. They're going to be positioned as one of the top 2-3 programs in the Big 12-to-be, and an almost-annual loss to OU could mess up their CFP hopes. The oSu administration has not indicated any desire to continue it as an OOC rivalry on either an annual or occasional basis. OU might be willing to play oSu in a home-and-home series every decade or so, but to do it as an annual series does not fit in with its scheduling philosophy.
If OU were to establish an annual OOC series, I'd like it to be with Nebraska, not oSu.
* No disrespect intended. It's my simulation of the Oklahoma State University "brand" to avoid confusion, as there are two other "OSU's."