Before I answer to that; if the one who asked this question is trying to pull off a sarcastic one liner, I would just like to say, “dude! grow up and get a life!!”.
Back to the topic, YES we do feel that we are in a low ranked “IIT” but that is only when we compare ourselves to the likes of IITB, IITD and other old IITs.
In a complete sense though I agree some NITs and old established private colleges might be better than IIT Bhubaneswar in many aspects but at the end of the day, its the students who make the college and not the other way round.
The feeling that each one of us here has, that we are not as good as “them” only just by the 20–30 marks we scored less in a 3 hour exam gives us the moral strength, and the excessive cumulative importance given to the 3 letters “I I T” by the world in and around the campus cements the idea in our minds:
we too are IITians, just like “them”.