The numbers bear it out unquestionably, just not when you hand select the ones you want in favor of recency bias. Good luck arguing Kentucky is a top program using the same logic you just espoused.
Hey BBH, we can agree to disagree on this fine Thanksgiving day. I think UK's numbers compare favorably to anyone. Indiana has 5 titles, 3 of which came under 1 coach in an 11 year span. None since 1987. UK has 8 titles, under 5 different head coaches in 5 different decades, including one in 2012. There is no real comparison between the two, but we can argue if you prefer. Indiana has 5 titles, which is great, but the real argument is recency with the Hoosiers. As I said above, no titles since 1987. Not even a Final Four since 2002. The argument for Indiana was solid in the 1980s, as you say, it was undeniable then. Maybe we should define what blueblood really means...
In total wins, it's UK, Kansas, UNC, and Duke- Indiana is #10.
In winning percentage, it's UK, UNC, Kansas, Duke, UCLA- Indiana is #20.
In Final Fours, UNC has 21, UCLA has 18, UK has 17, Duke has 17, Kansas has 15. Indiana has 8, which is #8.
Your best argument is titles
In titles, it's UCLA, UK, UNC, UConn, Indiana. Your problem is measuring up in other areas and also recency. What have you done for me lately?