Here’s why Mizzou is the way it is

Mizzou is the only D1 P5 football program in a state of 6.1 million people.
Mizzou has two medium sized population centers within its borders that regularly pump out enough talent to make Mizzou competitive in the SEC if it could just grab those kids.
Mizzou is centrally located within the State, theoretically allowing it to recruit all of its major populations centers easier.
Per capita it has the second highest ratio of Fortune 500 companies in the SEC
Which makes that fact even more amplified by the fact that again its the only school in state, which given the number one (Texas) at some level shares theoretical donations amongst its P5 schools, somewhat nullifies that stat.

All of its major populations centers outside of Columbia itself sit on/near the state borders. These cities are major hubs for expats, especially in KC MO where there are neighbors who are Husker, chickenhawks ,Wildcat ,Hawkeye and Arkansas fan's collectively then Mizzou). The kids of these parents breed expat loyalty into their kids.
STL loses out most of its talent to ND and Ohio State. STL has a crazy concentration of Catholics, and many St. Louisan's second team is ND.
Despite having plenty of wealthy companies and alum we have very few that seem to donate regularly in large amounts, this may be because of many of the embarrassing incidents that have occurred over the last decade (Funnily enough, because many of the Walton's attended Mizzou and or still live in Missouri, Arkansas and Mizzou regularly have the same largest donor).
Finally... this is the biggest reason... and that is the professional sports in Missouri have had a stupid amount of success over the last decade+. People in my state have been absolutely spoiled by successful Professional franchises that eat majorly into the interest of the average Mizzou fan. The populous only has so much money to spend any given year and sadly for Mizzou.... product on the field is keeping people from spending its dollars on the state flagship.
The Cardinals and Royals combine for 3 WS in the last two decades, with the Cardinals being in the playoffs perennially almost every year in that span.
The Blues finally won a cup and like the Cardinals for two decades are a regular every year in the playoffs.
The Chiefs have their SB, have been to the Superbowl two times recently, and will make the playoffs for the foreseeable future.
Even the Rams had a brief run of success during this time.
Obligatory NCAA Punching Bag.