I think a realistic goal for a top program is to make the 12 team playoffs most years. That is akin to making a major bowl back in the day, a good season. Being in the SEC doesn't really make it tougher for Texas, I think. They just need to finish in the top four of the conference each year, which is roughly 7-2 in conference and 3-0 out.
If you are not 10-2 or better, you don't merit going anywhere special I think.