This is a good post and helpful reminder about this really strong Iowa team. That team was stacked.
From my vantage point, publicly stating that Garza's number will be retired is entirely premature. There is no need to do this now except that the University of Iowa wants to capitalize on their fans' excitement with the goal of generating donations to the university and athletics program. It's also been effective in distracting from the massive anger issues facing head coach Fran McCaffery, who needs a lot of help.
I suppose another question is whether other Big Ten programs have prematurely retired a player's number? I don't recall any situation for which this is the case so I'm again drawn back to the idea that the University of Iowa is thirstily hoping to cash in on excitement about their player. While I want to be decent and fair, it's pretty clear that the University of Iowa is eagerly trying to generate money.