Last year for example is one where BYU was in a great spot for a 9+ win season. They had 4 P5s on the schedule 3 upper tier-ish G5s on the schedule (Boise, SDSU, Hawaii), and 6 other games they should win.
The problem was not really the 4 P5 games which they split 2-2, it was that they also lost to several other teams they should not have lost to last year. Flip losses to USF, Toledo, and a bowl win in Hawaii and you have a ranked finish with a 10-3 season.
I would be happy with splitting our P5 games and then winning out or a loss here and there to good G5 teams, and if that means 7-8 wins a year then it is what it is. Frustration for me comes from losing to those teams where we should win and blow it ourselves.