I'm indifferent on much of this conversation but the blue blood discussion always intrigues me
Blue blood doesn't mean the best current programs or the best current jobs. Blue blood as a term (beyond CFB) has always been about nobility of birth and pride in history/lineage.
The blue bloods are Texas, OU, Bama, Notre Dame, Nebraska, Michigan, Ohio State, and USC. We've been around since the early days of college football and have built our prestige over many generations. We've all gone through stretches of dominance and troughs. We're the programs that built CFB from the start and have been there every step of the way, shaping it into the sport we enjoy today.
Sure, we've sucked, and Nebraska sucks, and ND and Michigan have their own issues, but it takes decades to undo history that's been built up for 100 years.
There are a ton of variations of the chart below that illustrate this. Total wins, total win %, AP ranks, etc. And they all show a gap between the blue bloods and the next closest group.