I agree with most of this but I do question the statement "has always been backed to the hilt by the state". Prior to Ella Grasso's efforts as governor, we were as underfunded as most northeast public schools and a lot of what she did just brought us to what the Universities of New Hampshire and Vermont were getting from their respective states. It wasn't until two decades later that state funding and support reached a "to the hilt" level. Yes, there has always been a fan base for athletic programs (especially men's hoops) exceeding what reasonably should have been expected but the state legislature did little for the school for its first 95 years.
I just got back from an alumni association event where SH and Newton spoke. She said that Malloy has been a big proponent for university research and IP development as a driver for economic growth, even before he was governor and she was president... and said that support from the State is higher than the norm at 26%. But she was also adamant about developing the Foundation and increasing the endowment, and sounded like she was anticipating the possibility that the support from the state would drop as it has in other states. If in the future we elected a guy like Larry Kudlow (I know, I know, he's running for Senate not Governor) or someone less interested in higher ed that could wind up being the case, so at least they are anticipating that.
There was a question from the audience about AAU and SH fielded that question like a pro. As I think she has said elsewhere, having AAU-level research enterprise is a good goal to have on its own, so we're aiming for that... and she said something like "we'll get there" but cautioning that AAU doesn't like to add new members. (She also mentioned that Nebraska was asked to leave... which we know... and also mentioned that not a lot of professors even at AAU institutions are aware of it but that it is a thing in the Big Ten - again which everybody interested in CR knows but it was nice to hear her say it). So it's definitely a goal, but no timeframe on when we might get there.
Getting back to the OP... the $6m grant with Wisconsin maybe sounds like a lot for, but it's probably for ~4-5 years... It's good of course to have that collaboration with a school like UW, but I hope to hear more... and maybe some kind of institute-level type collaborations/grants.