I've said since the beginning of the whole NIL thing...
It's fine if they players want to get paid. I honestly think they SHOULD get paid. The school is making money off of them, and they should get a part of that. I know a lot of people disagree with me on that...even some on here. But it is what it is and I think people should get paid if their likeness is allowing an institution to make money off of it. That said...
The NCAA should have put a cap on how much these guys can make. By allowing them to set the price, they're essentially free agents in the world of college football. Yes, allow them to make money. But the amount of money should be limited. That would put a stop to them shopping around to different schools just to see how much money they can make. If they want to make more, then they can get an agent and start making money with NIL deals in other ways (commercials, product endorsements, etc.). There are plenty of pro athletes/coaches who do that (Nick Saban and Deion Sanders in the AFLAC commercials, for instance).
Nick Saban's salary was quite substantial, but the bulk of it didn't come directly from the University of Alabama. It came in the form of endorsements, bonuses, etc. For yeas, he did Ford truck commercials (as did the head coach at that other school). Then he started doing the AFLAC commercials. And I'd be willing to bet it wasn't cheap to get him and Deioin Sanders to do those commercials.