I stumbled upon this evaluation by Jason Lisk of the Big Lead from last May. If this had been posted previously, mea culpa.
I think his analytics do constitute one reasonable approach for trying to assess this. They certainly do underscore Ohio State’s overall consistency of excellence during this time period (notwithstanding 1999 and 2011).
What’s perhaps especially interesting is that Ohio State has had the best winning percentage, the most Top Ten finishes, and the most Top 25 finishes.
https://thebiglead.com/2018/05/18/top-25-college-football-programs-of-th...