Prior to the 2013-2014 season, the Raptors had only made the playoffs 5 times in their near 20 year existence at that point. Since the aforementioned season, the Raptors have made the playoffs the past 6 seasons, however, usually bowing out early. This is their first championship appearance in their history. Yes, they have had some success, but "quite some time" is quite subjective, and undoubtedly, Syracuse hoops has been more successful over a much longer period...now that is "quite some time."
That being said, yes Syracuse is no Toronto, which is an amazing city as you mention. And, though you can't compare the two (which I wasn't) Syracuse's games many times is broadcasted nationally, along with internationally at times. So, the Dome's presence is vast, and far more reaching than just the area's relatively smaller size. That is what make's the Dome's naming rights much more attractive, etc. for some company that wants to place their name on it. No doubt, it doesn't have anywhere near the potential or close to what Toronto's Scotiabank Arena is raking in, but I do think (IMO) there's a lot a cache and value it brings. That's the larger point I was attempting to make.
It is a well known/highly recognizable venue, and I would argue that from a blimp shot, etc. far more recognizable than the same shot of Scotiabank Arena (of course its name is now embedded on its roof, but if it wasn't is what I'm saying).