a sport that has two dozen "Boise State's," and an additional power conference, as there is in a sport with 125 teams, total, including such pitiful cream puff conferences as the MAC, the Sun Belt, and C-USA?
Here's the big picture. There are about 350 Division 1 Basketball teams. 5 guys start. About 14 guys per team.
Versus 125 FBS Football teams. 22 guys start (plus special teams starters).
It's simple. You can build a solid program much easier in basketball than you can in football. Which is why there is so much more parity.
More evidence: In Football, BYU is the only team not from a major conference, or established as an major Independent (at the time of the win) in the post WWII era that has won the National Championship. Further, they're the only team that fits the above criteria that has even PLAYED for a National Championship, or been in a postion to win it come bowl season.
Basketball? The complete opposite. Butler played for it twice within the last decade, while in the Horizon Conference. UNLV won it in 1990. UTEP won it in 1966. San Francisco has a pair of titles. Loyola Chicago won in 1963. While UConn was in the American a couple seasons ago it won. It's much easier for a broader range of schools to compete at a high level.
You can't argue with math. Are you prepared to say the Big East isn't high major? Gonzaga, Wichita State, UConn?