Funny, MLB teams don't seem to have a problem when they have high draft picks that don't go to college and come up through the minor leagues. Even a guy like Rubio had a ton of hype before he played a game in the US. The NBA isn't banking off the name brands of many incoming rookies. Who is the last NBA rookie who would be considered a tv or ticket draw- Durant? Sometimes we assume that NBA fans are big college hoops fans when that's not always the case. I mean the NBA's biggest media fan is Simmons and he's pretty clueless about college ball until tourney time (he's usually basing his opinions on what Ford and others are saying about prospects).
As for academics, check the graduation rates for D1 MBB players (not the GSR, but the Federal Graduation Rates). 47% actually graduate from the institution where they started. Let's not pretend like the top programs are filled with a bunch of scholars.
Yes, the current D League is flawed, but go read the Grantland series on what the Rockets are doing with their D-League team. It won't take long for other teams to copy this approach and start really taking advantage of what can be done with a consistent developmental program. NBA GM's are really ahead of other pro leagues in using analytics in their approach. They aren't going to accept doing business the same way because that's how things have always been done.