As a college sports fan:
There is no other country where institutes of higher learning are monetized for sports in the way they are in the U.S. In Europe, sports are run by sports clubs, generally with loose affiliation to a city, but sometimes known by their own identity within the city (like Arsenal). Those sports clubs include the idea of "revenue sports" which pay for facilities used by minor sports which are mostly more like intramural clubs (badminton, handball, etc.)
We've built a system where the identities of our sports clubs are tied to higher ed institutions, and it's hard to extract ourselves from that. But now that it's been made clear by the courts that the NCAA has never had a legal basis to operate the way it has, we're having to confront it. And frankly, most institutions, including Cal, can't play the NIL game. Our NIL collective just threatened to withhold money from the athletics department unless they have Justin Wilcox report to Ron Rivera instead of to the AD. Cal just can't be part of that kind of extortion, and that's true for most current NCAA universities. Only a handful are willing to let the athletics operations run the institution.
I think the most likely scenario, long-term, is that athletic departments, at least for football and basketball, get split off into independent entities, which may still use aspects of the school branding and maybe facilities on or near campus, but aren't administratively part of the university. A CBA is inevitable, and at least for football and basketball, it will probably wind up being an extension of the existing CBAs for the NFL and NBA, with the college-branded leagues becoming a formal minor league, with graduated rookie contracts starting right out of high school.
Part of the asymmetry right now is that the NFL rookie salary structure makes it more profitable for top athletes to stay in "college" where there aren't any controls. The NFLPA obviously sees this, and the process which led them to create the rookie salary structure will have to extend downwards to cover college athletes. And the answer to "why would the athletes vote for that" is, for the same reason they voted for the rookie salary structure.
I agree with the folks in here who point out that we persecute athletes for their choices in ways we don't persecute coaches or ownership. This may or may not be a good, or honorable move for Nico, but coaches and ownership make bad moves and dishonorable moves all the time.
Semi-related: I don't know what's going on with Cal's football program right now, but the fact that half the offense entered the transfer portal after we brought in fired anti-vaxxer Nick Rolovich on offense is probably not coincidental. Justin Wilcox last year said:
If you're a college football fan, and you love that game, and the pageantry, the teams, I would encourage you to not look behind the curtain. I would just enjoy the games, cheer for your teams, but if you start looking too deep into the kitchen, you might not want to eat. You might enjoy it less. I think you just enjoy the game for what it is; it's very complicated, there's a lot that's concerning about what's going on. It's still the greatest game on earth, but it's in a very complicated place right now.
https://bearinsider.com/s/4346/ultimate-insider-podcast-e101-bowl-game-off-week