While I'm sure there are valuations and reported deals that are inaccurate, what is reported is logically consistent. e.g. We understand Drake, DT, and Anthony Smith will be the Gophers top earners this season. Those deals were reported around $1M. Scanning around the rest of CFB, we see high-impact (better?) players at bigger programs reportedly making more money.
Kewan Lacey is the specific example that created this line of discussion. Given what we know about Gopher football - available dollars, the external demand for DT, and what we understand DT is paid - it seems logical for Kewan Lacey to be paid $1.8-$2.1M. I understand skepticism around numbers that do not currently have a neutral clearinghouse, but it would be difficult for the numbers to be logically consistent if the people driving the market (agents, players, teams, brands, reporters) were all following their own agendas.