I completely get where you’re coming from and in some ways agree with you. I haven’t decided yet if I’ll contribute to NIL, but I’m leaning yes even though I don’t like a lot about it.
To some of your points above though, the logic of NIL is easier to understand when you look at it through the lens that this system we have right now isn’t really what the NCAA envisioned when it passed. It was supposed to be businesses getting player endorsements and players getting royalties on jersey sales. So there was supposed to be value on both sides, as you say.
As with any system put in place though, the first thing people will do is find ways to exploit or game the system to their advantage. The NCAA was sloppy and didn’t think through the regulations before hastily passing them, so they were easily exploited and there’s basically no control now.