There's a lot to what you and GG say, but you need to look at more than the impact of money at the professional and college level.
Look at what's changed in the environment the PCL inhabits. For decades the diocesan schools (including the high schools) were subsidized by donations made by large numbers of weekly mass goers. High schools had a very reliable number of feeder schools. Many Catholic families had 5+ children and most Catholic families pretty much automatically sent their children to 12 years of Catholic school. (My 30+ cousins, living in Philly, Bucks, Delaware, and Montgomery counties, all went to Catholic high schools Much of the high school and elementary school teaching staff was made up of nuns. priests, or brothers and were paid peanuts, while the lay teachers accepted just a bit more than peanuts because everyone knew they were expected to regard their work as a vocation and, besides, it was a pretty bare bones operation.
As we know, just about everything just described has changed utterly. Catholic schools have to recruit and, for various reasons, they recruit "non-Catholics"--some who are athletes but most who are not. Having high-profile athletic teams is in large part a marketing/recruiting strategy that many Catholic schools--not just SJP and LaSalle--have found to be successful--though the degree to which it's been successful varies a lot. Are there risks in the strategy? Absolutely, and I think just about every Catholic school--including SJP--has made mistakes and been burned. (I think the same applies to the Interac schools.)
I don't want to see SJP go down the same road as Bosco (North Jersey) went down some years ago. Infante seems to have his feet on the ground, and I hope he keeps them there.