Nebraska's dynasty I believe was combination of good fortune, good timing, and unique circumstances that started to erode after the formation of the Big 12.
They had a lot of things going for themselves during their heyday including:
* Excellent, innovative coaching (and strength program)
* Able to recruit nationally due to limited TV slot availability
* Partial qualifiers
* Walk-on program
* ...
Towards the end, these things started to fall apart, leading to Nebraska's irrational and erratic decision making and current state of the program.
Nebraska fans keep looking to the past in order to reclaim their former glory, but it's unlikely that they will find the success they are looking for there.
Every college football team is on TV now, would-be Nebraska "walk-ons" go to NDSU or Wyoming, and they probably won't be able to get partial qualifiers in the B1G.
Really I think Bo Pelini probably achieved sort of the peak of what modern Nebraska football could look like unless they find the next great coach (chances for that are pretty low I think).
IMO there's not a lot that separates Nebraska from any other midwest team right now besides unrealistic expectations and a storied past over 20 years ago.
Maybe if they can convince Warren Buffett to set up an NIL program, they can have some good seasons lol