Cavan had 2 winning seasons out of five. His overall record was 30-27 and he was probably the best coach ETSU ever had. For his two winning seasons, one was a 6-5 campaign; the other a 10-3 run (his last year before taking the job at SMU).
Mike Cavan - Wikipedia
Aside from that one 10-3 season, I can't remember ETSU having any other "good" seasons. At best, we were middle-of-the-pack in the Southern Conference; and honestly, we were probably slightly below that.
I get the "if it's done right, it can be profitable" argument, but given ETSU's total lack of tradition, coupled with lack of resources and fan support, the odds don't seem terribly great.