Therein lies the rub. Some define that to be a function of poll ranking or winning percentage over time. Some to titles or certain bowl births, especially relative to your rivals.
Me personally, I place a much higher premium on the latter, but I can understand the former. That approach certainly has its virtues.
I guess what bothers me is when winning percentages and poll rankings seem to justify in the minds of some the lack of accumulating or appearing to be progressing rapidly towards titles. Then again, I imagine that for those that put more stock in what they might think is a longer term or more wholistic point of view, the lack of titles shouldn't necessarily distract from the bigger picture. I get that, too.