The great thing is, we really only need 2-3 truly special guys at the same time (ideally one at the QB position) to make a run.
Look at Purdue with Brees, or Cal with Rodgers ... those schools were generally not better than Minnesota is now, and at the moment are probably considered in worse position as a whole. But one game-changing player comes in and bam, Purdue heads to the Rose Bowl for the first time in 34 years, and Cal climbs all the way to #4 in the country.
Now, can you count on a guy like that showing up on our door step? No way. But it could happen, and it's not like we'd be that far off right now with a transcendent talent in the right place. You couldn't say the same for a program like, say, Indiana, or Colorado, or Kansas right now IMO.