Prior to Matta, yes. But he made it is a big time job and they have all the money in the world. Now, it very easily could slip back down to a B level job, very very quickly.
Ohio State has so much cash that their basketball program has the ability to always be good. Thad Matta did amazing things there. 2 Final Fours, 1 Elite 8, and 2 Sweet 16's in his first 8 years there. Yes, his record the past few years wasn't great, but that was probably due to his health issues.