Construction money isn't the limiting factor on any potential stadium expansion. Nor is the quality of the team/program. Both of those goals are achievable.
I'm highly skeptical of this ever coming to fruition because of the long term decline we're starting to see and will continue to see in people attending live sporting events. That goes double for a large urban market where there's plenty of competition and things to do during Gopher football season.
I'm also skeptical of how interested in football young people are - as compared to the ever expanding list of available diversions, and how capable of affording live games the coming generation(s) will be. Most young people today will have less disposable income than their parents at a similar age as they grow older.
Finally, +30K seats is a lot. Even in the sunniest possible future there's going to be lots of empties for all but the biggest B1G games. An incremental expansion in chunks of 5-10K seats seems more sustainable than building a mega upper deck for the once or twice a year (maybe) that it would get close to filled.