You were compensated, but you weren't free to negotiate. The NCAA artificially limits what you can be compensated. If I apply for a job as a cashier at Lowe's, and they say they'll pay me $12 an hour, I'm free go to Menards or Home Depot, and apply to be a cashier there, where they might offer me $13 an hour or more. I'm free to weigh the benefits of each job, and even ask for more money, which the employer could agree to of they feel I'm worth it. Maybe I'm a great cashier or something. But in college athletics, the NCAA is there saying "All cashiers can only make $12 an hour. Doesn't matter which store you work at. $12 is the maximum.". That's inherently unfair. It's artificially limiting the cost of labor. And in the case of a sport like football, the NCAA effectively controls the only path to the NFL, so players don't really have any other choice than to submit to their rules.
There's a reason why the NCAA has formed their little groups to explore some of these areas regarding compensation rules. They know just as well as anyone else that they're going to have to change sooner or later. Just a matter of time.
I think the biggest argument to paying NCAA players is that 99% won't ever get a paycheck for playing in the pros. They do something else. Let them earn the $$$ that they generate for the NCAA while they're prohibited from being a professional....