There is no question the CAA quality has gone down. It's still a good mid major league, but it's nowhere near what it used to be. I'm not that enamored by the G-League stuff. I'm still more impressed with Euro, make a lot more money, and these g-leaguers will rarely see the NBA floor in any meaningful manner. I think it's a lot of fluff, at least for right now.
As Stu said, part of the problem is that each team typically has 1 stud, and it's just not enough to make consistent national noise by beating the big boys. And the CAA hasn't made real NCAAT noise in a long time. The old CAA had the VA 3 and at times UNCW taking big dogs to task on a routine basis. A shell of itself today.
The CAA also largely can't retain its talent, losing LOADS of it's best every single year to transfers. That doesn't help, and programs can't establish themselves as they are constantly rebuilding. (with the exception of HU so far thankfully)
I think the other HUGE problem with this league is that it constantly cannibalizes itself. Every single year this conf beats itself to death, has made itself annoyingly difficult to win without the national recognition to make it worth it, and although parity is sometimes fun to watch, it's terrible for national league image and success in the long run.
No secret I can't stand this conf for HU anymore, but I also know there's nowhere else to really go, so HU is stuck for the moment.