The flawed assumption here is that all football/men's basketball programs make money and all other programs lose money.
While that is generally true, it is not always true. Alabama football makes a lot more money than the Mississippi State or Vandy football progams; do Bama players get paid more? Can you imagine that recruiting advantage? Many non-BCS football programs lose money; so, does Akron and Bowling Green not pay their players? Does the BCS break-off from the non-BCS programs that are either not-profitable or less profitable. So, who does Bama play in their non-conference games? Paid players, employees, versus amateurs, college students? That sounds manifestly unfair and dangerous. Do superstar players get paid more than career back-ups? If players are going to get paid based on their revenue generating ability, why should Jamies Winston get paid the same as an FSU back-up OL whose presence brings in no revenue to the program?
Do the player receive bonuses for reaching the BCS playoff or a bowl game, which creates more revenue? Win the game and make it rain! $$$$$$$$$$
If the idea is to share more revenue among all football and basketball programs so that all FBS/D1 football and basketball players get paid, does Bama and Texas have to share their ticket/merchandise/media rights revenue with other less wealthy FBS programs or does the SEC share their football revenue with the Sun Belt? Good luck with that.
What about the UCONN women's basketball program? They sell-out all of their home games and reap more cash from their media rights deal than more than half of the D-1 men's teams. If you are going to pay men's players from less profitable men's basketball programs, how do the UCONN women not get paid? If you pay the UCONN women, would WF or the other 98% of the women's programs that lose money have to pay their players?
Similarly, the Minnesota and Wisconsin hockey programs, among others, reap profits as do several SEC baseball programs, why should the athletes in those programs not get paid, while a money losing program like UGA basketball get paid?
The question is easier when the discussion is limited to whether Bama football players and Kentucky basketball players should be paid given the revenue that those programs produce. The argument ignores that there are more than 350 men's basketball programs and 120 football programs and many of those lose money or break even. If the remedy is to break out the super revenue/profit generators, then the number of programs resembles something like a professional sports league (30-40 super teams). What happens to the NCAA tournament? Without an NCAA tourney, suddenly men's basketball programs lose the largest generator of cash.