A dynasty is built over a long period of time. In FHSAA terms, that is a program that consistently wins decade after decade. Suwannee won 4 titles in a row back in the 80's. Then they quickly fell off the map. Ask anyone today if the Suwannee football program is a dynasty and they would look at you funny. 20 years from now we'll talk about whether Madison County's program can be considered a dynasty.
IMO, a football program "dynasty" is also defined by the greatness of its competition. Those Suwannee teams took advantage of a relatively weak class those years they won, just as Madison County has taken advantage of moving down to 1A and beating up on competition that is limited. If Alabama moved down to FCS and started kicking butt, nobody would be talking "dynasty."
MC had its chance to prove itself when it played in the higher classes against the likes of Bolles, Chaminade, Glades Central, Clewiston, South Sumter, etc. MC did well, but they certainly did not dominate. Once again, MC has a fine program. But winning a few state titles in 1A does not make one a dynasty.