Nothing happened to it; the program is what it has been for most of the last 75+ years. Since 1940, Pitt's winning percentage is .507 (432-420-18). They had a great run from early mid 70's to early/mid 80's, but aside from that they're no better than UMD.
This. In modern football, Pitt is the definition of mediocre. They have managed to produce some very good individual players over the years, but never very good teams. An 80 year track record is certainly long enough to be able to gauge who Pitt is...a mediocre football program with an enormous little brother complex.