Most of these clips on here are not actual simulated pressures. A simulated pressure is when you actually blitz players to show a 5-man or 6-man pressure and defensive linemen will drop out into coverage. They're referred to as simulated pressure because you actually do blitz, but it will still end up as a 4-man rush with 7 in coverage. The one example on here that I recall that was an actual simulated pressure was the 4th & 13.

When linebackers/safeties either walk up to the line to show pressure and then drop out, like several of these clips, this is referred to either "mugging" or "bluffing". It's not actually a sim pressure because no one actually blitzes. They put pressure on the offensive line by showing blitz and making them have to account for 5-6-7 rushers. As you showed here, they can also drop out and run their base coverages. It's still really smart defense, especially in passing situations, but showing blitz and dropping out is not running a sim pressure. 

"Mugging" and "Bluffing" are fairly common in College Football. Most DC's worth their salt will either give their guys the freedom to show blitzes to disguise their coverage, or, like what Michigan is doing, actually have calls where they align in a specific bluff alignment. Simulated pressures are in vogue right now but are less common because you have to have defensive linemen that are capable of dropping into coverage consistently and they are more complicated to execute than the standard 5-6 man pressure. 

The overall narrative is dead on though. Michigan won because it did exactly what it wanted to do, which was put pressure on Michael Penix. It wasn't necessarily through literal QB pressure, but by consistently muddying his reads and constantly making him uncomfortable.