I'm a big wrestling fan, but wrestling is a "a small pond" when compared basketball. It is just a numbers game.
If there were as many athletes and schools participating in wrestling as there are basketball it would be much more difficult to dominate (and thus be less relevant) the way PSU has in the last 15 years, iowa did prior to them, and Okie St prior to that. Just because it would be more difficult to stockpile the tallent amongst the many more programs.
Much like Duke in basketball is not as relevant as PSU is in wrestling, because in basketball there is UNC, UK, UConn, UCLA, Indiana, Villanova, etc.