I think you’re being WAY too liberal with that term then. I’d go with this all-time:
Clear Blue Bloods
Kentucky, North Carolina, Kansas, UCLA, Duke
Elite But Not Blue Blood
Indiana, Louisville, UConn, Villanova, Michigan State, etc.
Next Tier
Huge group of traditionally good-to-great programs that span a pretty wide range … all the way from Arizona and Syracuse to Purdue and Illinois to Michigan and Arkansas, etc.
Decent Historically But Major Flaw(s)
These are your Iowa or Alabama programs.
Everyone Else
That third tier has some programs like Michigan that have excelled in March but been unimpressive as far as all-time winning percentages, NCAAT appearances, weeks in the AP poll, conference championships, etc …. And it includes programs like Illinois and Purdue that look elite in some categories (e.g., Purdue having the most Big Ten titles or Illinois being in the top 10 all-time AP appearances) but mediocre in others (e.g., Illini having only 18 Big Ten titles compared to PU or PU only having 2 Final Fours).
To me, it’s honestly the TRUE Blue Bloods and then the rest of us … one three-pointer falls in the 2005 National Championship Game and all of a sudden Illinois has the same number of championships and MORE Final Fours than Arizona. A miracle putback by Virginia doesn’t fall, and Purdue has 3 Final Fours and maybe a title and they’re talked about in an entirely different right. Splitting hairs below the Blue Bloods, IMO!