Two questions:
1. Can you name some high major programs or coaches that have had sustained success recruiting inferior players?
2. If good coaching and inferior players is a recipe for success why do so many elite coaches risk their livelihoods paying for highly ranked players?
I don't generally disagree with you on this but plenty of teams perform better with less talent than those that don't. Look at the 2 teams in the national championship game last season. Virginia and Texas Tech have gotten good players but they are certainly not the schools you would think of when when asked which CBB heavyweights typically get the best recruits year in and year out. Tony Bennett and Chris Beard get good recruits who fit what they want to do, develop them at a high level and coach circles around most other coaches.
Now, I don't think the players Mike Anderson has gotten are close to the level that Virginia and Texas Tech have gotten, nor do I think he is near the coach that either of those two guys are. But that's essentially the formula he's trying to duplicate at a smaller scale. Recruit guys that fit what he wants, develop them and win with them as upperclassmen. I have no idea if he'll be successful doing this here.
The answer to your second question is easy. Because those "elite" coaches aren't as elite as you think. The players they pay for make them elite. Give those coaches the same amount of talent as everybody else and they'd be as average as everybody else.