I can't speak for the entire history of every other Pac-12 school, but our history/tradition, while impressive, is largely irrelevant in today's game once on realizes that we dominated in the 1960s because Jack Gardner was ahead of his time in getting black players, and that Majerus' success was fueled significantly by Prop 48/42 kids. But we're not the only school whose history has conditions -- UCLA is very spotty past Wooden; Arizona is 90 percent Lute; Oregon is a very recent phenomenon, as is Colorado. Only fans really care about history. And unless you're a blueblood, recruits largely don't care about what you've done 40 years ago, either.
That said, our "history", arena size and basketball support -- there's a reason the JMHC is top 5 all-time in NCAA games hosted -- easily puts Utah in the top half of the league. The true negatives about our program -- lack of local talent, which coincides with no true "inner city" that breeds such talent (and keeps it home) -- have improved somewhat, but will always keep us from breaking into the top 3. Arizona, UCLA and whatever flavor of the month is out there (currently Oregon, but could be USC, could be ASU, has been Washington in spurts) will always occupy those spots.
EDIT: To get a better idea of how the Utah job was once perceived, and how it is in complete discord with how we perceive the job, read what Al Maguire told Majerus to do with the Utah job in "Napkin": Run like hell away from it. Now, a lot has changed since then, most notably, the Pac-12 invite. But even Maji himself said that Utah had the tradition of DePaul, but with a fanbase that had expectations of being Duke. Firing Giacoletti and Boylen like we did (even though justified) probably only cemented the idea some might have that we're totally irrational when it comes to hoops. I'd say after UCLA and maybe ASU, our fanbase closest resembles SEC irrationality than any other school in the league, and I say that with a large amount of pride and a measurable amount of disgust.