Didn't read the whole thread, so probably repeating some points already mentioned here.
Odds are stacked against us for primarily one reason, which impacts our ability to compete consistently in many ways: the size of our fan base.
The teams that stay at the top of college football almost all have literally millions of fans that have no direct affiliation with the school. GT has almost no "sidewalk fans" comparatively, as well as a smaller enrollment, alumni base, and massive international / nerd student base that doesn't give a damn about sports and won't even attend games as an undergrad, let alone give money and support as an alum.
Compare GT to UGA (or any of the other major names in CFB). As the big, accessible state university in Georgia, UGA has probably 5 million fans born into default UGA football Fandom. There are enough of them to fill the stadium for every game no matter who they play, keep the money flowing, keep things exciting for recruits. Most of these people cant even truly call themselves fans of UGA, the university. They'll pick a different team for sports UGA sucks at, like basketball. All their money and support is for football.
They get more money, attendance, excitement, coverage, etc., all leading to better facilities, coaches, recruiting budgets, and recruits. These teams will be better than us more often than not.
Playing in the ACC just exacerbates the issues, especially when we are down. If we played in the SEC against more of these large regional state schools we'd at least have a full stadium every week from the opposing fan bases. When GT only has 15k fans show up to a home game Syracuse, Wake, BC, etc ain't filling in the gaps for us. Empty games, less money, excitement, coverage, recruiting interest, and no new sidewalk fans are made...it's a vicious cycle.
Can we do better? Of course. We have a öööö coach right now and these issues are compounding. With a good coaching hire we can put together some competitive teams, outscheme the big boys from time to time, and have the occasional magical season.
We will never be yearly contenders. Find a magical coaching hire that gets us to that point and he'll get poached by a program that can pay 3x the money, eventually. It is what it is.
Getting into the SEC or some new regional equivalent after conference restructing is out only hope, in my opinion. Even joining the B10 would only do so much. They have a few bigger names that might have sole local fans but the local populace in Georgia/the south will only care so much about a program that exclusively plays Northern Midwestern teams every week when all their friends and family are SEC fans.
Basically, I think our fate is sealed and we will never be relevant year to year. I'm hoping we get a good coach and squeeze in one more magical season in the next 5-10 years because college football is F'ed anyway and won't exist in its current form for much longer.