I am arguing that this isn't 1990.
I am not arguing that UC can't be or isn't already Elite. As a fan base, we just need to have a perspective that isn't constantly judging on a past model.
I would suggest UC has built an excellent program, and would be considered a top 25 program. Elite is hard to define, but success is not. I feel the team is poised to constantly have success every year, make the NCAA tournament, and has the talent to make the occasional run. I would also suggest that 30 wins is a pretty elite team, and I am excited about what the future brings.
However, to think that somehow UC is going to recruit with the likes of UK and UNC in this decade, I find that insane. Gonzaga, who is arguably the best mid-major, struggles to get recruiting classes much better than UC. So if we are defining Elite by the talent coming in, no UC is not going to be it.
Also if Elite is being defined by magazine covers and national talk show coverage, I think Gonzaga has proved this year that success doesn't get you this. ESPN rarely spoke about Gonzaga and they were number 1 for pretty much the entire season. However, I am pretty sure ESPN pounded into everyone's head the next big game for UK, or the next UNC/Duke game.
In short, don't expect the 90s to come back. This doesn't mean UC isn't an elite program in today's world.