I think you may be right on this. Some here don't realize that if you didn't get into Rutgers College, Douglas College (for women) or even Cook College, your only hope to get into Rutgers University-New Brunswick was through Livingston College. Livingston College was was the easiest of the schools to get into. But now as you know, they've done away with this and it's Rutgers University with different departments within the university like arts and sciences and schools of business, engineering and pharmacy. I had gotten into Rutgers College and Mason Gross School of the Arts back then.
Rutgers College and Mason Gross were considered "most difficult" schools to get into back then similarly to the top rated private colleges around the nation. Mason Gross still exists today and I believe is the hardest school to get into at Rutgers especially the acting/directing and design programs where they accept less than 20% of the applications.
Even if Rutgers College was taken into consideration back then for rankings, it still IMO shows how far we have fallen. Rutgers back then was always considered better than the schools I mentioned in an above post as well as Penn State, and especially schools like Villanova, Northeastern and UCONN. Those three schools were not even on the radar back then and Villanova was up until about two years ago ranked as a regional university and not a national university.
One way for Rutgers to get back its prestige, would be to up their admissions standards and instead of admitting 58% of students to New Brunswick, follow the model of UC Santa Barbara, San Diego, and Davis, where they admit less than 40%. That's where Rutgers-New Brunswick should be. The other Rutgers in Newark, Camden and schools like Rowan and Montclair St. should be the alternative schools for those who do not get in.