But I don't think they will ever go on a clip like they used to be, winning conference titles almost every year. The conference is much better/deeper than it was back in those days.
Nobody will but that isn't just because the conference is better/deeper, it is also because there are no more co-championships. Per the B1G Media guide (link:
http://grfx.cstv.com/photos/schools/big10/sports/m-footbl/auto_pdf/2016-17/prospectus/prospectus.pdf the Wolverines have 42 league titles. By my quick count, 26 or more than half were co-championships.
Consider this another way:
Per the aforementioned B1G Media guide, heading into the 2016 season there had been 172 league champions. Subtract the five won by UW, MSU, and tOSU in the B1GCG era and you get 167 in the pre-CG era. Then add one for tOSU's vacated 2010 title and you get 168 league titles awarded in the 115 years from 1896-2010. On average that works out to just under 1.5 league titles awarded per year. Thus, with the advent of the B1GCG the total number of league titles awarded has been reduced by about 0.5 per year.
Getting back to Michigan:
In my opinion your characterization of the way Michigan used to be as "winning conference titles almost every year" somewhat exaggerates the Wolverines historical success. I submit that it should be amended to "winning conference titles about every other year."
AFAIK, the Wolverines never won more than five-straight. They accomplished that from 1988-1992. I think you make a good point. It would be a lot harder to do that now. Ohio State was (relatively) down at that time, Wisconsin was a bottom-feeder, Penn State was an independent, Nebraska was in the Big8, etc. That was also the best Michigan ever did in terms of league titles. Overall Michigan has been in the league for 111 years (11 from 1896-1906 and 100 from 1917-2016). They have won 42 league titles which works out to a little better than one every three years.
The Wolverines have two major league title droughts. They won only one title in the 18 years from 1951 through 1968 and they haven't won any in the 12 years since 2004. If you back out those 30 years and that one title they won 41 league titles in their other 81 years in the league. That is a rate of almost exactly one every other year.