Yep, if he can consistently stay in the top 10-15 in recruiting AND is good at plucking those diamonds in the rough and developing them into four and five star players. Y'all will definitely compete. The potential problem is not being able to recruit at minimal level and having to depend too much on player development.
Not to brag on myself, but I'll go ahead and brag on myself since I mentioned it.
I coached a youth baseball team two years go and on a roster of 11, I had five true athletes and the rest "bless your heart" type players. The PC term is "project players". One of my good friends coached a team in the same league and was loaded with talent. He'd beat the brakes off us every time and let me hear about it. I told him that I do more coaching than he does because a lot of things I have to coach, he doesn't due to talent. He disagreed and continued to whip our butts. We moved age groups and I was able to assemble my own team with the five athletes from previous year and picked up 6 equivalent athletes. As life had it, he lost almost his entire team and couldn't replace them with equal talent. Long story short, we've played him at least five times since and the closest score has been 17-5. Talent matters......A LOT.