Team New Zealand suffered the same fate back in the beginning of this millennium. Losing to Alinghi can be blamed on the Tight Five but in actuality TNZ's boats were shit. It stands to reason Oracle or One World would of beaten TNZ if they made the Cup final instead of Alinghi.It seems to me that Orifice won in AC34 because they had such a massive advantage by challenging using a multi hull with wing in AC33 and even then, they didn't win by much.
However, roll around AC35 they were thoroughly out thought by ETNZ and it would appear by Artemis also.
So yeah, it seemed that post AC33 that Orifice were on a constant downward trajectory through lack of innovation that only ended up costing them the cup in AC35, but almost cost them it in AC34.
If Lazza decided to take the same team into a challenge in AC36, unless some major change of culture took place, I don't think they would have a reasonable chance at winning the cup.
No matter what sport it is its hard to stay at the top, at the championship level. Competitors are constantly looking for ways to beat you but, most importantly, its very hard to keep teams motivated and on their toes year after year or AC cycle after AC cycle. Especially when top talent is constantly pouched by people with deep pockets.