The administration of the highest levels of college sports was the problem in that they were selling something (NIL of participants) that they did not own.
The better fix to the problem was to prohibit the NCAA and the universities from profiting off the NIL, along with strict enforcement of amateur sports rules.
Instead, we get a NIL arms race guaranteed to make the rich richer and the poor poorer, simply due to lack of meaningful rules and enforcement, all compounded by a wild west style transfer landscape.
College football and basketball is on the path to the mediocrity of simply becoming a bunch of farm teams for the NFL and NBA. The fans will disappear faster than the greed.