My take-
People forget about Oklahoma. They have about as much money as Texas, however, when it comes to wrestling, while they are a quality national program, they are still second-fiddle in their own state when it comes to wrestling.
This is going to sound a little like sacrilege because I'm bringing up an EIU example, but the writers from Saved By The Bell didn't have Slater lusting after a wrestling scolarshup for nothing. Schools like Penn St, Ohio St, and potentially Texas could build nice programs for themselves. But why wrestling is a different animal than football is the hotbed of wrestling isn't in the south - it's in the farm belt states like Iowa, Ohio, Oklahoma, and Pennsylvania. And typically those kinds of kids don't dream of going to Texas to wrestle - they dream of going to a place like Iowa or Iowa St, and is why Ohio St and Penn St have a legitimate chance of becoming a national player.
If Texas is going to become a national player in wrestling, they'll have to do more than just throw money at it - they'll have to build a grassroots system in the south, because all the talent right now is in the north and the northern kids don't dream about going to southern schools to wrestle.