The NIL system "as is" will get blown up. Most kids cannot manage money at this age. Most will get a rude awakening from the IRS. Further, the scholarships are likely to be deemed income by the IRS. Let's be real, any kid receiving a scholarship is receiving services and goods for "work" and now with the NIL the nexus is too close to "pretend" there is no economic exchange.
Further, the concept that schools will pay significant money to maintain a semipro team is really not conceivable when most schools lose money on sports. Before you go crazy, yes, football makes money or breaks even at most schools but the problem is Title IX must be honored. If you separate football from all other sports, there is no money to operate the remaining sports. If you keep all of the other sports, few schools make money as it is, there is little to no money to pay the football (and possibly hoops) teams.
In am sure there is a balance but at the moment the system is unbalanced. In the end, blowing up CFB for a semipro league is less likely than the conferences working together as the pros do and creating a league that represents the country, not just two regions.