I guess its just my experience in Tennessee. Half of my family is from Kentucky but I was born and raised in tn. Before the Titans UT football seemed much more important to them. When they're under performing nowadays they always seem to bring up the Titans. I see way less UT signs, flags, hats etc than I did in 1995. Not even close really.
As for Memphis, I wasn't necessarily talking about success, but fan participation and loyalty was muuuch stronger before the Grizzlies. Growing up around the area it was all Memphis Tigers basketball all the time in school and in the city. Fast foward 20 years and most of the tiger hats have been replaced by Grizzly hats. Most UM fans are fairly open about the apathy created by the pro franchise, and die hards feared it in the beginning.
For example, Memphis and Louisville have no love for each other. I visit the biggest memphis basketball message board quite often, and not one thread about Louisville losing a title. 12-15 years ago there would have been a parade.
Indiana sports have nose dived and you'll hear their fans bring up pro sports as a coping mechanism. UCLA basketball is a distant 10th behind every pro team in the state. I look at my own personal experience in Tennessee and compare those situations with Kentucky and Alabama. I think there's some truth to it. UA and UK have one real tradition.
People under 30 set the trends of how these things work. If Kids in Kentucky have a pro team who's competative, they're probably not going to care as much about Kentucky basketball missing the final four. Id hate to see the state become a "there's always the pro's coming up" type of way.
But It would be cool to have a pro team called "The Kentucky Thorkbreds" or something. Id be a die hard day one, regardless. Proving my own point.