I think this is a good thing for the overall concept of College basketball although it may mean that some of the top programs, who have in the past signed these "one and done" phenoms, may miss out of some of them.
These are kids who seem to have no interest in a college education. They might be:
1. Academically deficient and not want to sit through hours of classroom time being mystified by stuff they have zero interest in. Giving these kids an alternative means we can all feel a little better about what we are watching (actual college students competing)
2. They may feel any college is really unnecessary since they will soon be making more money in a year than the top 30 members of their class combined. They aren't wrong, IMO.
3. They might think they can get the college they want later and that they should take the money NOW. Getting to the NBA sooner most likely means a longer NBA career and that means more money.
Now I recognize many will view this through the prism of what's good and bad for SU. But, this sounds to me like it will make college basketball more generally competitive and more exciting.