Now, now. I would assume that you consider Arizona to be a Blue Blood (I do!) but comparing Arizona's Final Four record to UCLA's over the last 20 years does not come out good for Arizona. In fact, unless you pick a very specific time period (i.e. 1996-2005 or 2026-2026) I don't think it's possible to make Arizona look better than UCLA, at least in that regard.
UCLA has obviously not had the recent decades of success that say Duke or Kansas or Kentucky or UNC have, particularly in respect to grabbing the top freshman NBA prospects, but they're kind of unfairly being held to a standard that they set in the '60s and '70s that nobody can actually stand up to.
As an interesting exercise, here are the number of Final Four appearances in the last quarter of a century, minimum 2 (2002-2026):
UConn - 7
Kansas - 6
UNC - 6
Duke - 5
Michigan State - 5
Florida - 4
Kentucky - 4
UCLA - 4
Villanova - 4
Louisville - 3
Michigan - 3
Syracuse - 3
Auburn - 2
Butler - 2
Gonzaga - 2
Houston - 2
Illinois - 2
Ohio State - 2
Wisconsin - 2
If we're going to LOL at any "Blue Blood" program over the last quarter of a century I think it should be obvious it is Indiana. Now there's a once high-and-mighty basketball program that has indeed fallen.