UCLA is waaaay better now than they were early in the year. The NET ranking is the aggregate of the whole year.
They were 8-9 to start the season with losses to #267 Cal St. Fullerton, #120 Hoffstra, and #112 Wash. St., and are 8-2 in their last 10 including 2 wins against us and a win @Arizona.
A reasonable finish would be splitting in the bay, winning in Utah, winning 1 or 2 games in the Pac12 tourney and getting a #4-#6 seed in the tourney
I'd say a good probability would be 100% chance of being favored to win the first round game and 50% chance to be favored in the second round game. Games played by 18-23 year olds tend to have some wacky, random results so maybe 80% chance to win the first round and 50% to win the second, compounds to about 40% chance to be a sweet 16 team.
There are, at best, 20-25 teams that should be more excited about the quality of their team this year. Bad losses happen to almost every team, this was a bad run of 10 minutes in a bad matchup against a team that is much better than it's record; it's not a reason to write of this team.