Reality is PCT is now a middling team given how cricket has evolved technically and analytically.
The way the likes of good cricketers in Aus, Eng, SA, NZ, Ind now are identified, allowed to hone their games in leagues/centers of excellence and have access to world class coaching/training etc. is far far ahead of Pakistan. PCT is still overachieving given the deficiencies it faces in these fields and decision making stability.
Just to give an example - Ishan Kishan is today ICT's 4th/5th choice keeper bat across formats and quite far from national selection. His counterpart in PCT is probably Azam Khan/Rohail Nazir.
Each meal that Ishan eats, every training session of his is logged and tracked by the performance centre in Bengaluru. If he wants focused coaching on a particular aspect - say dustbowl batting - he can request same and have a dedicated coach arrange sessions of net bowlers and simulated wkts without cost to him. Both the CoE and his IPL franchise are invested in his development and will provide him with all tools he asks for.
I do not think likes of Azam/Nazir have such access to support systems.
Fact is Pakistan still produces talent - Shaheen, Naseem, Rauf, Abrar, Babar, Hurraira, Saim, Abdullah, Muqeem are all players with gifted raw skillsets and it shows in how most of them stand out from their peers (national and international) at age group level. They have also delivered in spurts high class performance in intl level also.
But the way this talent is managed and developed is far far behind the top 5 teams. Even if Pakistan were to suddenly find a new Wasim and Waqar tomorrow they wouldn't be able to sustain them at intl level beyond their first major injury issue. It would likely be BBL/CPL/Hundred that would see best of them rather than PCT