I would define a blue blood as a program that
1) recruits elite basketball players and is routinely in the hunt for the best players;
2) has historical success in the tournament and has won some national championships.
Kansas, UNC, Kentucky, Duke and UConn fit that description.
UCLA, and Villanova were once in that category.
It's a very small group.
Trending toward that group are Baylor, Arizona and Houston. Purdue could get there depending how it rebounds from its loss last year in the Final.
Teams that pretend they belong Auburn, Bama, Wisconsin, and once belonged Syracuse.
BYU has shown in a small window the ability to recruit elite athletes but the next step is major success in the Tournament.