Virtually all winners of the cups are top 6 sides or former top 6 (Arsenal). It's probably only been Portsmouth and Blues who have won cups outside the usual lot in about the last 20 years.
The teams that we have lost to in major cup finals this century have been Chelsea, Man U, Arsenal and Citeh. The same lot every time who look bored when they win the cups.
I don't think is either/or , it is all or nothing. You are either in the elite, or out.