Richt is one bad season from being out the door, IMO. He is a good guy, and I could see him eventually giving up coaching, and doing a faith based inspirational speaking tour, but....I don't know. He'll ride it out a little longer.
I agree that if the right coach came in at Georgia, they'd actually be scary. Georgia is like that dog that it doesn't matter how loud and ferociously they bark, you know they'll never bite. I don't think Georgia ever wins a National Championship while Richt is there, and I doubt they ever win another SEC Championship.
I think Georgia's success recently has been the fact that the East has been down for a few years now. Florida hasn't been the same since Tebow left, we haven't been the same since 2007, South Carolina is going down quickly, though they were rarely up....and then Vandy and Kentucky are not worth mentioning.
Richt is doing just enough to stay around. But their time is coming. We'll put them down next year.