How much money can they actually make? If they PROFIT $10 per person and sell out each game, they'll get $3M to $3.5M per year, minus insurance, extra security, and the rest of the costs. I could see them making $2M in in profit before expenses, so I would say they would net $1M to $1.25M. The U is not a bar and they don't need to try to make a low-margin profit like most bars to remain viable.
Selling to the masses is different than charging the high rollers $40 or $50 per game for the RIGHT to drink beer, that's real profit.
Unlike a bar, they can't restrict minors from attending. How do they prevent minors from drinking, they can't. The insurance has to be several times higher than a bar. In a bar you've got maybe a couple hundred people all drinking and you've got a half dozen staff overseeing them. In a stadium you have a much smaller percentage of people drinking and how do you police the bad apples?
I don't know what you mean about your god/conservative comment. I don't think God would prefer alcohol. I don't think a (financial) conservative would spend $8 on a light beer.