Some of our more astute observers have said this NIL stuff has been going on forever. Maybe not known as NIL, but cash payments, cars, girls, jobs for parents, etc. Now, with NIL, it's just supposedly legit and out there in the open and is giving to those (the players) who supposedly need it most.
What if gamblers pay college kids? How about point shaving? OJ Mayo got money while at USC in the early 2000s. Nova had to forfeit it's 1971 NCAA appearance for Howard Porter's pay scandal. DeAndre Ayton just recently at Arizona. The great FedEx cash caper at Kentucky under Eddie Sutton. The various Rick Pitino incentive programs. Marcus Camby was paid at Umass, Ditto Jelani Gardner at Cal. What did boosters gain way back then for paying for their college talent? I'd say absolutely nothing but it's been going on since 1971 in the list above and even Adolph Rupp's teams were indicted for point shaving back in the 1940's.
In my entire career I never made $200,000 a year. Now this punk kid at Miami wants that and more. For what? Only one team will hoist a trophy and I guarantee it won't be the Miami Hurricanes. Bank on that. But folks will keep paying and I think it's all for the ability to be revered at the school --- ala Doc Chaifetz. Chaifetz is a god-like figure at Billiken home games and on the road at specific games (Madison Square Garden) and tournaments. I see him revered in his circle and when dealing with low-flying peons like me. And rightly so and that's fine by me but what more is there? As OG and Elond note, eventually, you want some ROI from these NIL deals if you ask me and you're just not going to get it.
According to an NCAA study in 2020, 3.5% of all high school basketball players move on to college after high school. That percentage drops to 1% if you limit it to Division 1 schools. And only 1.2% of college players make it to the NBA. Seems like a while lot of NIL dollars going out the window for absolutely nothing in return. What would you have paid Carte'Are Gordon or Jordan Nesbitt? What woudl they have demanded? And for what?