I mean theoretically with all the equalisation measures the AFL is imposing the simplest way to look at it is that you should be winning a premiership every 18 years. If you remove the small market teams who won’t win at the same rate as the others your probably left with around 10-12 teams. So if you look at it that way regardless of the 37 year drought, we are pretty much around the mark.
Not to mention that only west coast with 4 and hawthorn with 5 have more premierships than us in the AFL era with Geelong and Brisbane level on 3.