Sadly, our main focus is football, and we aren't very good at that.
I agree with your post that South Carolina should focus on being a men's basketball power. Buying three or four top talent basketball players is an affordable way to project your program onto the national stage. $10 million would likely buy a championship caliber men's basketball team, but it won't by an SEC cellar dweller football team.
I think baseball is about to change in a big way at a lot of schools. The new scholarship limit (34 scholarships, compared to 11 under the old rules) means the entire roster can be on full scholarship. Now, that HS star can go to whatever school he really wants to play for and not have to weigh which one is offering the biggest partial scholarship. Vandy became a national baseball power because they could, and did, use endowment money to fund scholarships for baseball players, effectively getting around the NCAA limits. That advantage has been taken away.