Well, there needs to be some kind of oversight and the NCAA has proven it isn't up to the job.
Not to mention the NCAA makes 10 figures annually (literally) from the schools, much of which could be up for grabs under a new oversight.
And therein lies my question.
I cry no tears for the NCAA. But as I've asked in several threads, what replaces it? I don't like the idea of, "Nothing.....and ain't it great!!!!!"
Now suppose the P5 Presidents and ADs try to replace it with something else. What's to keep a court from ruling that "something else" invalid from an anti-trust perspective? If the answer is nothing, there's no longer any distinction between college sports and the minor-league teams that several sports already have.
Are we to the point of open bidding for players? We might be, and I don't think anybody wants that.
There are several parallels between this and the movement to defund the police. The general population doesn't like the authority because it's so often unjust and clearly plays favorites...which favorites evolve over time. So the population rises up and abolishes the authority, or cuts its power so much as to make it ineffective.
Dancing in the streets....until that same population realizes that nature abhors a vacuum, and something else far worse is beginning to fill the void.
Ask Portland, East St. Louis, Chicago, and New York how that's working out. Better yet, go take a walk in Washington Park after dark. Take note of who sets and enforces the rules there, and how they do it.
There will be governance. It's a question of who's governing, who they're answerable to (if anybody), and how they enforce their power.
As much as I dislike politicians in general, and the US Congress in particular, this is why I think they (Congress) will have to step in with a uniform set of federal laws to govern intercollegiate athletics.
God help us.