What's the proper role of free market capitalism in college athletics? That's a question that all these schools, any governing body, and the courts will have to sort out at some point. Historically, there hasn't been much role, but I sense a shifting sentiment. The old model was very much a top-down controlled economy. "Wages" were capped tuition, books, room, and board. The amount of "paid positions" was limited and uniform for each school by limited scholarships. Finally, there were employment minimums and forced equality with Title IX. Simply put, historically, college athletics hasn't had much use for free market capitalism.
For those that want to see the players be compensated, are you ready for broader adoption of free market principals? Title IX goes, why limit the scholarship positions, when player comp arrives, will non-compete agreements be enforceable (ending the transfer portal)? There are plenty of people quick to criticize athletic departments for their greed in not paying football and basketball players, but far fewer invoke market forces when it comes to having to field whichever women's non-revenue sports to balance the scholarship count.