It's not the students. You could have a wall to wall student section and that would only be ~15k, IIRC.
The rest of the stadium would look very red.
The culture is changing. Older people? Mostly Yankees who eschew any college sports and will not sit in 100 degrees for anything. Younger people? Even at the game (outside of the student section) head down, texting, Facebooking, selfies, etc. Attention span is shot.
We need to consistently offer big name wins. Older fans (and sports writers) might remember declaring USF the new Cinderella, only to have USF lose to a lesser opponent and making them look like fools. Some are gunshy to climb on the wagon at this point. We have to prove ourselves all over again. And, dare I say - a lot of fans don't even know what conference we are in, so a conference championship will not draw them in. A win that has the sportsworld buzzing will get their attention. But this is a tough market. Just ask the Rays.