While I totally agree with you about the NCAA being a joke, when it comes to NIL they had no choice. Individual states were already making it legal for athletes to make $ on their likeness. I think California was the first after the Ed O'Bannon lawsuit. 7 states already had laws / acts in place when the NCAA allowed NIL's across the board.
The ncaa could have been out in front of this, but ended up being brought to the party kicking and screaming with no real plan and now we are all seeing the results of their lack of leadership in regards to the issues facing college bball.