I think the difference back then was a bit of a perfect storm. We were competing against unlimited resources in the old Big 8 days, (NU, CU, OU all had scholarships for more than 100 players). Then the scholarship limitations created what we see today, parity. The problem is that our admin at the time didn't want to take advantage of the parity that was being created. So, you don't get the facilities, you don't get the players, you don't get the coaches. We would've been better off being in a smaller league at the time I believe. Winning creates the support without the admin. All while the cross-state rivals hired a great head coach.
Jishke started to understand and Geoffrey got it and found the right AD for our situation. BVD was good for the bottom line, but terrible for raising funds and making good coaching decisions. Gene was great for fundraising, and hiring coaches, but not a great accountant. Now we have the AD that is great at all three major facets.
With parity and the admin that we have, I can't imagine that we will fall too far in the future. My guess is that we learned our lessons the hard way.