The NCAA also ruining college ball by now allowing multiple transfers (vs just one in the past). Players who get a better NIL deal, or a promise of starting, or more playing time can just pick up and leave for a new team.
Lots of teams depend on finding ‘under the radar’ players who don’t sign with the bigger teams. Now if a player has a big season at one school, he will be gone to a bigger school with an NIL deal. And if he has another good season, he’s gone to yet another big school for an even better NIL deal.
You’re going to start seeing schools dropping football as they won’t be able to keep up with the big boys. Football is an expensive program to run, and it just won’t be worth it, because there will be no enthusiasm for the lesser teams.