Who is going to make these rules?
The death of the NCAA started back in the 1980's, when Oklahoma and Georgia (universities) sued the NCAA for broadcast rights. The Supreme Court ruled on behalf of the plaintiffs, which set the precedent that the NCAA, a private institution where membership is completely voluntary, can't govern its members the way it wants to. That precedent was reaffirmed after the Sandusky pedophile scandal at Penn State, where the NCAA dropped the hammer on PSU, but the courts later reversed many of the penalties. The NCAA, as a governing organization, is rather impotent.
Any system that the NCAA put in place to govern NIL income would likely be (or have been) challenged, and if court precedent held, the NCAA would lose. And if the courts didn't rule against the NCAA NIL policy, individual states could make their own NIL rules (like they are now), and the states could prescribe much less restrictive NIL policies than the NCAA policy to give the schools in their states an advantage. Then, the NCAA would have to sue all the individual states with NIL rules, or capitulate to the state rules.
Once the concept of college athletes getting NIL became socially acceptable, the process was going to immediately head to what we see. At some point, there might be enough consensus to pass federal laws to govern NIL, and perhaps the courts would let the laws stand. But I don't see that consensus now.
