What do you consider good?
In '79 Iowa won the Big Ten title & went to the final four in '80. Since Lute left, Iowa has seriously challenged for the Big Ten title only two times. In '87, Davis' first season, & in '06 under Alford.
To me a good team is one that is consistently considered to be a Big Ten title contender like Michigan State, Purdue & Ohio State. I do not consider a middle of the pack finish & an NCAA bid a good team.
Since '88, Davis' second season, Iowa has only one sweet sixteen appearance.
I guess, to me a good team is one that seriously challenges for the Big Ten title and is expected to make a run in the NCAA tournament. The '06 team did challenge for the Big Ten title but I did not expect them to make a run in the tournament. The Big Ten was way down that year. As a matter of fact, no Big Ten team made the sweet sixteen that year.
To me, being MAD again does not mean Iowa has a good team. If a middle of the pack team & an NCAA bid is your definition of being good, then Iowa was good under Davis.
However, this is SAD, you probably have to be at least 40 to remember Iowa's last Big Ten regular season title. To give you an idea of how long ago the last Big Ten title was, Hayden Fry would not coach his first game at Iowa until the fall of that year
Iowa's decline in basketball has been slow & steady since Lute went to Arizona. It started under Raveling, continued under Davis & Alford, & hit rock bottom under Lickliter. When Lute left Iowa was sold out on a season ticket basis. You had to donate money to get tickets.
Today, Iowa has to offer gimmicks, to try to get fans to the games.
Sorry for my ramblings.