I agree with you in spirit but not so sure we should go this route for college athletics. I suppose it all depends on what how you view the purpose of "higher education". There was a time when there was a clear separation between corporate private interest and publicly funded education. Those lines are pretty much gone and have been now for some time though there is still a semblance of separation.
The reason for the separation was that the interest of corporate or monetary incentivized entities quite often had nothing to do with the education or well being of students. They had "less pure" motives. They still do.
That said, schools give merit based academic scholarships valued at well over $100K all the time. Many of these scholarships are funded by corporate entities and have been for a long time.
So I guess there really isn't much here that is sacred anymore. Perhaps you're right. Let's just drop the pretense and fully expose what goes on behind the curtains in the world of academia. Pull it all out into the open. The funding, the academic research, the tenured professors, the government/corporate/academic complex, the seedy nature of all of it.
Not sure why I feel like college football should be any different. Amateur athletics isn't sacred. I don't think it ever was.
I've changed my mind. I agree with you.