Sure it
could happen, in the opinion of this sidewalk fan. And particularly, as long as Tech (1) does not enjoy football-factory recruiting standards, (2) has a relatively limited range of majors compares to other universities, and (3) requires some calculus regardless of major (and yes, I'm aware that the core calc requirement is not challenging for math-oriented folks on this board, but a majority of folks shy away from it completely), it will take an offensive contrarian such as CPJ to do it.
As others have written, the Hill must show some greater appreciation and institutional support before a title shot comes around. And since we're all speculating here, I believe it would take a minimum eight-team playoff for Tech to do it; I want the other half of the bracket to have to play two "conventional" offenses before facing Tech's offense in the title game -- better that Tech's eventual opponent, when taking that month to prepare to prep for the playoffs, has to prep for two offenses other than Tech, not just one. The less time our title game opponent has to prep for the option attack, the better for us.
And here's hoping the conventional offense run by most other teams continues to be one with the QB in a pistol or shotgun, rather than under-center. Our defense will be far more accustomed to facing conventional "spread" offenses than other teams' defenses will be used to facing our offense.
Otherwise, pretty much the same stuff would apply to Tech as would apply to any title contender -- a sufficient number of players with enough physical and mental ability, esprit de corps, etc., and it's possible that the stars could align one particular year for Tech to pull it off. Think of Coastal Carolina winning the NCAA baseball title in 2016 (paraphrasing their coach, "We didn't have the better players, but we had the better team"); NC State upsetting Houston in '83 and Villanova upsetting Georgetown for the basketball title in '85. You get the drift.
Tech winning the title in the next decade? Likely, no;
possible, yes.