The video was taken on a privately charted bus going to a private function.
The only way that would meet the criteria of creating a hostile environment is if one of the other students on that bus claimed such. And that would require a detailed investigation and adjudicative process.
The chant was racist and abhorent. But Boren is setting his school up for one heck of a lawsuit payout by doing this. Perhaps he’s angling for getting this off his plate quickly, figuring that the inevitable lawsuits can be quietly settled by a nice payout.
Well, let's say a judge agrees with them that they should not have been expelled. Now, a jury is asked to determine damages. They shouldn't spend the money yet.
I suspect that they will move on with their lives and find another school. There is a qualitative difference between what they did and Patrick Henry's treasonous (at the time) words "Give me liberty or give me death!" There won't be any statues for these guys.