If we look at the good replays from say 3 or 4 years ago and we compare them to replays that are considered good now, like you said there has been a great improvement in general replays level. But, I dont think ORMO's standards have completely stayed the same either.
If you look at older recruits (like, very old) maybe if some of them applied now, they wouldn't get in. It's just that ORMO's standards haven't been improving as fast as standards of replays in general.
I think it would be a good idea to raise the bar a bit, but ORMO was never only for the "seriously fucking exceptionally awesome" replay makers. That way, there might only be a few members.
In my opinion a good way to raise the bar a bit is to give credit to the more "creative" replay makers. Right now lots of people can do "boom"s and maybe what's missing is the pure originallity, which is what makes a replay memorable and the replay maker special...

fuck, just when I wanted to apply