St. John's certainly is interesting - you would never believe they would win games based on how roundly they get housed when they lose. Part of that is not luck, per se. I think it has to do with St. John's having a flaw or a fault line that can be exposed, worried, and can crack the team open. There may not be a statistical correlation, but I think the turnovers and ability of the other team to score off of Red Storm's mistakes is a large factor in the blowouts.
From Basketball Prospectus:
A team's "luck" is measured here according to how far their conference record exceeds or falls short of what would be expected given their per-possession scoring margin.
Without further ado, the luckiest major-conference teams in the nation.
....St. John's (Actual: 4-11; Predicted: 2-13). St. John's? Lucky? Well, yeah, a little. Put it this way: it's an unusual for a team to lose five games by 19 points or more and then go 4-6 in their other ten.
I also think that the blowouts have to do with a lack of depth; but more aptly, to an inability of the coaches to get that depth ready to play.
Some media outlets believe coach Norm Roberts is coming back for a 6th season. With all but one player coming back, and the one impact player coming in at guard (the team's relative strength), and the other recruit and possible recruit playing the shooting guard position, I don't know what is going to change. Many of the talented players in the league will leave, only to have similarly talented players play their way to collegiate stardom.
Moreover, leaving a future coach with a team of 9 seniors also leaves that coach holding the bag. That coach will have to go out and find 9 viable players and re-re-rebuild the program (if Norm's hiring was a rebuild, and his 7/8 man freshman class in 2007 was a re-rebuild, this would be the third "re."), continuing a losing tradition at St. John's.