Lidge was hardly a one-year wonder, we just didn't have him as long (or when he was young). Madson had his valleys too (including trying to replace Lidge in 2009) and we punted on him right when he was getting older (albeit to sign another older guy who also had a few years left in him).
A big part of the reason they are so variable is the margin is so thin. If you're talking a closer, a guy who saves 90% is good and a guy who saves 85% isn't (especially considering teams win 95% of all games they lead after 8, though most of those aren't save situations obviously). A Hector Neris who faces four batters per outing is great, and still good if he faces five most of the time, but terrible if he allows an extra-base hit.
A lot of it is just the sample size. When a reliever is great one year and bad the next it could be overuse or a minor injury or mechanical change but could also just be pure luck, as 10 mediocre to bad games would be enough to skew an entire WHIP (and also skew perceptions since we only remember the bad ones with someone like Hunter or Morgan). We expect our hitters to fail 70% of the time and our starters definitely fail 20-25% of the time but any one individual reliever has to do a lot better than that.