It's not about accepting mediocrity, it's about not setting expectations that aren't within reason. I don't think Gopher fans should have expected the Gophers to make the Final Four just because we had a good run in the NIT. Like dpdoll, I want the Gophers to do well and I don't want accept mediocrity, however, I don't want to set expectations for the team that doesn't take history into consideration.
For example, look at the Twins. Prior to 2002, They were dreadful. Then Gardenhire took over and the atmosphere, for some reason, changed. 10 years later Twins fans, myself included, are irritated with their progress over the last 2 years. Why? Because my expectations are that they should be going to the playoffs. Why do I draw these aforementioned expectations? Well, it's because the Twins in the 2000's were a playoff-caliber team. Thus, my expectations are derived from their recent success. Now if the 2011 and 2012 season took place in the mid-1990's, no one would think twice about their 95+ loss seasons because they're basing it on recent history.
My expectations for this team going into the year was to improve on the previous year. Next year, my expectations will be based on how this season ends. I'm not accepting mediocrity but it is what it is. Duke expects to win the ACC every year. Why? Because they usually do. What happens when Duke doesn't make it the sweet 16? They're fans are disgruntled whereas Gopher fans would be chomping at the bit to make a sweet 16! Why? Because we haven't made the sweet 16 since '89. I know I'm in the minority on this but what do you base expectations on when you don't account the history of what you're basing expectations for?
Also, as far as your business analogy goes-- most sales #'s are based on the previous year, correct? So expectations are built based on the numbers in the prior year. At least this is what I've experienced in my professional career. Again, another expectation that's built on history, albeit recent history, but this goes to show you that basing expectations on history; whether it's a one year time frame, or a time frame that includes many years of results. .