as if they are considered "great", we need some context.
Good, not yet great.
Neither of our endowments are huge, as both are below 2 Billion. Williams College, a small east coast college in Massachusetts has a larger endowment.
Neither has the size of research that the great research schools do.
The quality of incoming freshmen is very good, but in comparison to the great schools, still not there. BYU is what it is, and should be proud of its accomplishments, but let's not get ahead of ourselves and we don't need to knock Utah, and vice versa, to show what each has accomplished. Neither school is Ivy League caliber. But neither are most colleges and universities.