LSU fans will be ecstatic for a string of sweet sixteen appearances with the occasional visit to the Final Four. In fact, I think most schools would be pretty happy with that.
Correct me if I am wrong, but a perennial contender is one that contends every season (obviously you know the definition of perennial, I'm not patronizing you), not one that makes:
Your words, not mine. So either you have a very odd definition of perennial contender which includes just an occasional visit for a chance to win a national title, or your first statement was just a bit of a reach.