The hurdle to winning an NC today obviously is very different, and much tougher, even for the "best team". Presume OSU this season is really "the best team", and well they could be. They are looking at beating a really good team, call it Notre Dame, then a really really good team, call it TT, then a team about as good as they are, say UGA. The odds of winning all three are not good.
I'm really talking about putting elite level teams out there on a consistent basis, not winning a slew of NCs. If a program wins 11+ games a year for a decade, I'd call that elite, in these days, even with no NCs. Sabanesque if you will.