I think there are a ton of great points here. I think the answer to a lot of it is "well we are too far down the rabbit hole to change things now".
Look at the difference from Europe to USA. Luka Doncic wants to play pro at 14 he sure can, if Real Madrid want to spend $50m on a 12 yr old soccer player from Turkey they are allowed to do that. Where US pro sports are, they dont want to deal with kids, its hard enough for them to scout 18 yr olds and get burned drafting a kid at 19 who is a flop that you paid $20m to, imagine doing that for an eighth grader. They also don't have a salary cap, you want to pay a guy $100m a year, thats up to you. The Euro model of pro sports is why eventually I don't think the $$ difference on a college team will mean as much. It is so new now everyone thinks they deserve the most $$, over time that model will play out and kids will find out, hey the top players are getting X, middle players Y, bottom players Z and everyone will kind of slot in, at least i think ha.