Let's assume Wake could sneak into the First Four in a similar style to St. John's this year (21 wins, sprinkling of bad losses, bad OOC schedule, two or three solid wins - although I still have no idea how or why they were picked), we would still need to improve about 100 KP spots just to get to that level. And St. John's was an obvious outlier (worst rated KP team to make the tournament as an at large that I could find over the last two decades).
Wake could be a lot better next year and still be nowhere close to the bubble. Especially considering that rumors flying around that Hoard is leaning towards the draft, I don't see any situation where Wake makes the tournament. Or is even close to the tournament for that matter.
The major issue is going to be the schedule. ACC goes to 20 games next year, we have four or five other guaranteed games against top 150 opponents. I don't see Wake sniffing 20 wins.