Let's start with this:
As things stand right now we will likely not be favored in a game until Feb 23. I've got the current win probabilities as follows
Purdue 30%
UCLA 31%
at Nebraska 18%
at Penn St 22%
Michigan St 29%
at Northwestern 25%
Michigan 26%
Illinois 22%
at Maryland 14%
Iowa 49%
at Oregon 16%
at Washington 40%
USC 61%
at Michigan 11%
at Purdue 13%
Minnesota 73%
That's a predicted record of 13-18 (6-14) and from a W/L perspective would be an even worse performance than last year, really a failure of epic proportions. But anyway...
I am sticking with the idea that 18-13 is enough to be on the right side of the bubble come March 9, Big Ten Tournament aside. That would require a 10-6 finish. Solving for the KenPom rating that would make our expected record over the next 16 games 10-6, we get: +24.31
With a +24.15 rating, the win probabilities would become:
Purdue 65%
UCLA 67%
at Nebraska 52%
at Penn St 57%
Michigan St 65%
at Northwestern 60%
Michigan 63%
Illinois 58%
at Maryland 46%
Iowa 83%
at Oregon 47%
at Washington 75%
USC 89%
at Michigan 39%
at Purdue 41%
Minnesota 94%
A +24.15 rating would be #12 in the current rankings. So we essentially need to play like the #12 team for the rest of the season in order to get back to the bubble.
The answer to the question? Pretty over... but not 100% over.