As you stated any other student (which they all agreed to be) would be more than happy to be provided room, board, tuition, sundry money, a venue that is tv worthy and attendant games mationally broadcast, an enormous vocal fanbase in support, marketing, coaching and skill training, nutritionists, health trainers, a league that took years to vet to promote that students chosen after school job skills and alumni backing and assistance post-college.
In return the school gets revenue deals by its stewardship within the leagues association by rising through years of managed improvements to a compensated pinnacle (B10) allowing it to selfishly (sarcastic) compensate the best coaching staffs to grow the venture and provide schollies to many other athletic programs and their students who otherwise would not exist or be able to attend the Universities. Is the resulting alumni pride also not also a result of this process?
I suggest the O'Bannon's and their ilk create their own league or schools in the free market or counsel HS seniors to skip college as is their adult right and see what employer will pay them the money they seek in hindsight. The world is full of Lebrons/Kobe's, right? The focus on them and not the league is just going gangbusters these days, right?