That's true, but to be fair, we've played good to very good basketball in two and half of those games (not the first half against Purdue and I wouldn't say the whole Penn State game, either). So, it's been against two very good teams, a middling team and a poor team.
I always say I'm not going to judge on wins and losses as much as I will on the level of basketball so with that in mind, we're seeing some pretty good ball right now. I can't dispute it.
Now, with respect to the Elite 8, as 777 said, we'd have to beat teams like Houston or Auburn. There's no chance of that happening. But could you see Michigan State or Purdue beating teams like that? Probably not. But maybe, right? They have a chance. And we beat them. So, as we've all been left to do over the past 30 years, if we crane our necks just right, we could get to a point where we could see that there's a Dumb and Dumber chance of getting the Elite 8.
I don't think that, but I could see how the VERY optimistic could hold out hope.