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Is the NLU era coming to an end due to poor faculties and administration issues? Will TLCs become the elite group again?
Not at all

NLUs have the problems of commons

Jindal has a owner so they continue to build the organisation while NLUs engage only in rent seeking
Yet it's Jindal that charges the max rent, together with that Goa place.
Which TLC has bettered itself during this supposed downfall of NLUs?
Just because u are poor at research doesnt mean there aren't.
They should but they won't because they are centres of petty academic politics, nepotism and castism and jugaad rather than centres of learning.
Good question and great observation.

No. NLUs will remain the best for law in same way IITs and AIIMS are for engineering and medicine.

TLC will be at best as Govt Engineering Colleges.
Power Law kicks in for any scenario. There will be top 3, and then the rest.