I don't know if we're "people", but a whole lot of us on here care for the team when it is losing.
I think the point is the casual fans don't generally care for the product until it has a "winning" formula.
Yes, I was using "people" in a general sense. Of course those of us here care about the team, win or lose. But as was noted the other night, the traffic this site has seen was at its all-time high when we beat Michigan State. That doesn't happen if we lose that game.
There is nothing mythical about the N in and of itself. The football fans have been great at traveling to see games, but that's only because we knew we'd win the game (or have a great chance to do so). The attendance at basketball games has been poor for the last decade and a half. Why? Not enough W's. People showed up this season because of the new digs. No new arena, we're not averaging five-digit attendance. Now that we're winning (especially at home), there's a solid chance people will stick around for next year.