I asked my friend who is a student at IIT Bhubaneswar if she ever felt an inferiority complex of studying in a low-ranked IIT. She said that feeling was inevitable and she did feel low to a certain extent. Some top NITs and private colleges are indeed better than IIT Bhubaneswar today but that doesn't mean IIT Bhubaneshwar is the worst. It's the quality and passion of students that make a college worthwhile, not its ranking.
The students here know that they aren't any less than other IITians since it was only a matter of a few marks that differentiated them and are proud of the IIT tag nevertheless.
IIT Bhubaneswar has indeed proven its worth given its broad alumni network in every big company. It may not have been able to attract the highest packages but its alumni can be found in every firm be it Apple, Flipkart, or Tata Motors. IIT Bhubaneswar has given birth to many entrepreneurs as well. Top foreign universities have IIT Bhubaneswar alumni as scholars contributing largely to the academic world.
Ultimately, the feeling of being a part of the IIT family takes over the inferiority complex the students of IIT Bhubaneswar have and they try to make the most of their college.