I think there is reason to have hope for improved shooting during MAC play.
First, Adams is currently shooting 24.5% from 3, when he shot 35.5% last year. Second, adding Graham, who shot 42.6% last year, will settle in and could shoot better than 30%. Last, Sabol, I think potential he becomes a bit more consistent as he gains experience.
As for all else being equal, that has not been the case as the TO% and the team defense has generally improved as of late.
A possible way to look at potential (get perspective) is based on barttorvik game score. Here is chart of that.
As you can see there is an upward trend indicative of improvement over first 11 games (impossible to get worse!). But to put things in perspective, a game score of 20 corresponds to a rank of about 315, a game score of 30, a rank of 270, and score of 40, a rank of 215. Now these are merely observed stats, and as @MuchMany correctly pointed out, some of the game scores JMU, Butler and Richmond may be inflated due to late game runs due to the opponent letting up. So what does this mean? At a minimum, it gives a perspective as to the needed improvement to be on par with likes of MOH (33) and Ball St (28). If they play more like the recent games, with improved shooting, they might have a shot to compete for 7th / 8th in MAC. The keys to the if...continued better ball control, team defense and shooting better overall. The next four games will definitely provide perspective.