I suppose its a privilege to play NCAA D1 just as the the NBA has a right to chose whom they want to make eligible for the draft and just liken the players association has a right to try and get themselves the best possible working situation and compensation. Its also obviously best if all 3 work together for the benefit of all which is unfortunately why I don't see any short term fix because all three are making big bucks the way things are right now.
As far as the NCAA however, they clearly benefit to make huge $$$$$'s off of these unpaid students. The NCAA, the schools, the coaches, the media and the advertisers benefit financially while the "student athletes" have very few real options, are almost forced into 1 year because of the NBA rule and aren't compensated other than education, room, board while also being unable to go out and support themselves. Its extremely exploitative.