I'm not sure my picture of the college baseball landscape is deep enough to give accurate perspective, but your thoughts certainly echo those of some very astute baseball watchers.
I think the USD did more to flatten the landscape than people considered. It used to be that an ace pitcher might get 20-27 starts in the season, now he'll get 15-20 at most. That's a lot of automatic wins that are now up for grabs. The USD combined with scholarship limits has choked down the depth of the top pitching staffs, while providing mid majors the opportunity to offer those wayward arms a nice compensation package.
I honestly believe that the biggest difference now, is, the haves, have less...and the have nots, now have...specifically with regards to pitching.
Having a son at a mid major would pretty much automatically constitute me as a fan of it!