Its not necessarily a ruling, but a memo by current admin. Very well could be viewed differently in a few days under a new administration.
That said, just asinine to apply Title IX to this. Drive revenue, get paid. Let the schools determine how that works and should be distributed for their situations. Simple as that.
The article does mention the Trump Administration could take a different stance. But no way do colleges want a system where being Title IX compliant vs. non-compliant could shift based on the Presidential election. I doubt it would ever come to political pickle-ball as the Supreme Court would get involved as my guess is if the Trump Administration takes a different approach, we'll just see lawsuits.
There already is a lawsuit by Oregon Duck women student athletes questioning the legality of the Oregon NIL Collective structure.