The next 5 years are going to be big for the MVC going forward, and will set the tone with Creighton's departure. Either the league will continue to be one of the top basketball conferences outside of the power conferences, or it will fall back to the pack of mediocrity.
The important difference between those two is the ability to get at-large bids (and preferably multiple bids). Even when a conference has one outstanding team, the conference still is in the mediocre camp without competition (ex: WCC when only Gonzaga was dominant, CUSA with Memphis, various others with rotating strong teams). So the Valley's future does not depend on Wichita State, or any other single team being dominant. If the Valley has one strong team, that reflects well only on that team.
So does the Valley depend on the teams that have been consistently good, like UNI or Evansville the last few years? Those teams are important, but consistency is just one part of the formula. If the Valley has good teams in the top four, but only one goes to the tournament then it will still be a one-bid conference. So the teams that consistently make the best of their budgets are not going to be the key, though they need to stay at the same level (and occasionally have great seasons).
I believe that the real key for the Valley will be the teams like Bradley and Loyola (possibly Missouri State and SIU). These teams have the pocketbooks to improve themselves, but currently are not competing for at-large bids. If those teams can improve themselves, then at the very minimum those teams that are currently going to the NIT would have the RPI to get a better shot at an at-large bid. At best, those teams can improve enough to significantly raise the profile of the Valley to closer to the A-10, which can still get multiple bids even with the departure of several very good teams.
So for the Valley to be nationally relevant instead of regionally relevant, we need the bottom teams to recruit better and hire better so that eventually they can play better. These teams have the potential to raise the Valley up or keep it down, and that makes them essential. But even if they improve their teams, it won't matter unless those teams have the potential for good wins. That means that scheduling as a whole needs to go up as well. The Valley desperately needs a scheduling mandate to return, given how important strength of schedule is. This is on each team and on the league office.
So the Valley is going to rise and fall with Wichita State, or whoever is the next dominant team when the cycle shifts again. It isn't going to depend on the team's that are consistent. We are all depending on those teams with untapped potential. Obviously they cannot all compete for Valley titles each year, but we need at least one of those teams each year to play to their potential so that the Valley can get multiple bids. We also need the opportunity to get big wins OOC so that wins in the conference mean something.
So no matter how much us Wichita State fans feel the Valley revolves around us, that simply is not true. And even if SIU returns to dominance or a team like UNI has a year or two like 2009, that won't matter if those teams are alone at the top. The truth is that the conference needs to have at least 2 and preferably 3 or more teams that are nationally relevant, and that has to come from the bottom.