The failure of Long Beach State athletics has many fathers, which have all conspired to leading to near certain future D2 status, or to borrow from BF, potential extinction. His contention is quite a possibility.

Facilities in crisis.
Title IX.
State budgetary issues.
Lack of departmental leadership.
Lack of university leadership.
Alienation of alumni.
Alienation of boosters.
Stale flagship program.
Failed branding.
Failed "new" mascot.
Banishing of old mascot.
Contempt for traditions.
NIL.
Growth of power and political/economic influence of Power 5 conferences.
The need for financial responsibility and to operate within budget for athletics.
Loss of reputation as a place to play and get noticed.
The need to better provide for student athletes beyond academic assistance.
Larger conference resulting in smaller pieces of the pie from post season successes.

That list is not comprehensive, but is pretty close to insurmountable at this point.