ND would never drop down...will pay players first. Too much pressure from boosters, alumni, subway alumni...you can't fight City Hall.
Now, I expect ND...like many schools...will try to stop this current insane NIL process...get this new system regulated. We will see if this works..stop this crazy fake NIL...this is a slush fund for boosters, nothing more...I really don't know if it can be stopped. I hope most programs band together to set up new rules...but it only takes a Texas A & M.. Miami and USC...just a few major outliers.. to mess things all up
Already you have the two Texas schools, Miami and USC jumping into this pay to play head first...I'll predict Tennessee and Florida soon follow...once you got 10, 12, 15 schools involved...how do you get things under control then? Not sure you can...then it is survival of fittest
Any "banding together" to limit player compensation will be found by the Supreme Court to be an anti-trust violation and will be struck down.
I expect the Supreme Court will soon hold that all college sports athletes are direct employees of the university, so "dropping down" to an "academic model" will mean that those schools...will still have to pay players.
They will just be doing so at a Tier 2 level while the "non-academic" schools will be in Tier 1 with the best athletes, TV deals, exposure and other massive advantages.
There will be no "other system" that will be legal.
Now, schools can group together into an "academic model", sure, but any attempt to "regulate" NIL or player compensation will not likely pass legal muster in a future after the "right case" makes it to SCOTUS (see Kavanaugh concurrence in Alston).
Think about it:
What attempts are made collectively by NCAA schools to limit the compensation of head coaches, assistant coaches, athletic trainers, athletic directors, their huge staffs, university presidents, janitors, library employees or other students who are employed?
Coming up with schemes/collusion in the future to limit player compensation will likely be struck down as anti-trust violations.
The "student-athlete" scam was a walking, talking anti-trust violation for decades.
It just took the conferences to sign and incessantly brag about their big blockbuster TV deals and coaches getting ever larger coaching contracts to motivate players to file lawsuits to get a piece of that growing economic pie that earned the schools more $$$ but not the players.