Andy, you know that argument doesn't hold, as Trap, Cap, Lippi and Ancelotti are still coaching. I don't think there is any other nation in the world ATM, that has four coaches of that quality
However, apart from Ancelotti, who is 50, there is no young Italian coach who can be compared not with Mourinho and Pep, but they can't even compare with the likes of DD and Blanc. And THAT is the problem, that when the three veterans retire, Italians don't seem to have anyone to follow in their footsteps.