I think there's a decent chance that the revelations from the trial could contribute to the downfall of "one and done." I would love to see "one and done" replaced with a rule similar to the draft rule in college baseball, i.e. you can go pro right away after high school but if you go to college then you have to wait 3 years to be drafted again.
To those who would object that this would "ruin" college basketball, I would reply that the change would make it much better. Furthermore, it would help the Wake Forest program, because it never gets one and done players (the roster might have one this year-we'll see about that). Though the problems of the Wake program go much deeper than the presence or non-presence of one and done players.