Yeah, UM will be fine. Maybe not a 30 win team, but they will win plenty and be a tourney, 2nd weekend team.
I feel that most times when fans say that a player should come back to improve their game, what they really mean is the player should come back to improve the chances that the team I like to root for has a better season.
Good luck to them, and move forward with the roster that you have.
A couple rumblings about adding a grad transfer and possibly another recruit from IMG I believe.