Wasn't up high enough to collapse...but it is true that we Old Hokies are the only ones who had an Elite Eight team while we were students. Used to be able to just show your ID and get in, but after we packed the Coliseum and the aisles for a big game, fire marshals made them control the number of admissions.
There's always hope of rebuilding when you're in a top conference like the ACC. Seth tried to get the students on board IIRC and I loved watching the student section on TV. Hopefully JJ can get things going.