It depends what you are using the rankings for, are you using to compare against your rivals or to determine if your program has a shot at a title?
The whole point of competing is to win a title. It is really not that hard if your program consistently has classes ranked in the top 10 they are a title contender. Not so much if the class recruiting rankings are always in the 20-40 range. Those programs are good programs, but they don't have the depth of talent to compete for titles or at least that is what history has proven.
Now if you are in a Power 5 conference in a weak division those programs consistently recruiting in the Top 20 have a shot as long as they don't lose and win their title game. Kentucky and Lousville were a great examples of this recently. UK was right there but then they played Georgia and got destroyed. Lousivlle stands toe to toe with Clemson then fades. There is a reason there haven't been any non blue blood program win a title in 20 years. They have more dudes and those dudes are better than your dudes.
College football is ridiculously uneven, but it always has been. I believe attendance will continue to decline because 95 percent of the programs have no shot every single year.