Title 9 has no bearing here and thus NIL isnt subject to lawsuits. Also many female athletes are doing very well being able to monetize their social media.
I wonder how well they'd do if they were playing for WNBA triple G league out of high school instead of riding on the coattails of established brands propped up by alumni and often tax payers. They might be successful at monetizing their social media accounts but it'd have nothing to do with sports, they'd be instagram "models" or "influencers" and succeed at that or fail at it independent of sports.
It's all a house of cards.
There's no inherent marketing value for hundreds or thousands of women athletes (and almost to the same extent college sports male athletes). There's Olympic champions after the Olympics, a few established pro sports at a level where college athletes will never reach and that's about it.
The athletes have value because of the school and the school gets marketing because of the athletes, it's a cycle. The athletes on their own are minor league baseball players in Fargo ND or Sioux City IA with about a 1 in 1000 exception. They can live their dream, but they aren't marketable on their own without university branding.
The first step will be that D1 college sports as a heavily attended spectator event in most regions, then it will go away entirely when what is left is a regional minor league. I can see basketball hanging on, but college football has likely peaked in total national interest with this.