It’s their second NCAA Tournament victory ever. Lat year they had their first. Pretty amazing they’ve had so few considering they’ve been around so long.
Not too amazing. There was no way they could compete for the best players. Sports have a very different meaning than they appear to have at other colleges.
Not so strange. The NCAA Tournament didn't start until until 1939, long after Harvard and Yale won so many football championships and had become irrelevant in major sports. Even then, only eight teams were in the tournament.
March Madness didn't jump to 32 games until 1975. Penn or Princeton has won the Ivy almost every year since then (yes, Cornell, you won about three).
Harvard's won three of the last four Ivies (and lost the fourth in a one-game playoff).
Another factor not listed above: Ivies don’t give athletic scholarships. Yes, their athletes are treated rather well and an applicant’s athletic ability might tip the scale in their favor on admissions, but no one is admitted with an athletic scholarship. At $50K/year that becomes significant.