To answer the OP's question,
2021 is unacceptable. There's no excuse to remotely justify such a season ever. That is 100% on the roster Cal picked. This season should've been Cal's last.
In terms of overall expectations- NOT A SINGLE FAN EXPECTS A FINAL FOUR EVERY YEAR. This statement is always said to intentionally try and portray fans as unreasonable. Kentucky fans want to be in the hunt for a Final Four NEARLY every season- not get it, but be a threat to actually get there. Getting out of the first weekend of the tournament is absolutely an understandable expectation.
Elite 8 losses hurt probably the worst but that's a pretty good season. Consistently not getting to the second weekend of the tournament should be automatically a bad season which is amplified with no SEC Tournament success either.
In the last 39 years, we've reached at least the Elite 8 in 86, 92, 93, 95, 96, 97, 98, 99, 03, 05, 10, 11, 12, 14, 15, 17, 19. That's about 45% of the time. This will now be our biggest drought since probation. It is not acceptable to go that long without making it that far. It's certainly not acceptable to not even get to the Sweet 16 during that time period. I don't think KU, Duke, or UNC have gone that long without a S16 in 40 years.