Actually there would be many benefits to the club system and whole lot less red tape. If you took time to study the way it is done in Japan and some of the European countries then you can build a good system from it. The USA has a huge population that isn't getting any smaller. Plenty of people like to run. Have you ever been to the US Club XC Champs in December???
If that was the only option for a kid coming out of high school then they would either A) train on their own B) join a club team or C) not continue. But either way the best would continue and the US would produce good national teams.
In most of the world you have the under 23 championships, under 20's (juniors), open (up to under 40) and master's. You could easily have xc championships, road race championships, ekiden championships, trail / mountain championships and indoor / outdoor championships. If done correctly then it could be very successful at developing runners. Why do we not have a half-marathon championship for university level runners (under 23's)?
The other thing it would do is force USATF to be accountable and overhaul the entire system. Right now they don't have to do anything because the teams pick themselves.
It could be done and be it could be done very well if that's the direction people had to go. As it is right now the NCAA doesn't really do anything for the sport. And there is a very false understanding of how funding works in college athletics. The mighty football and basketball machine doesn't pay for squat at over 90% of the schools (NAIA, NCAA II, NCAA III and most non-power 5 NCAA I schools). In fact they lose a lot of money in operations.
The events of the past five months have shown the weaknesses in the NCAA model across the board. Meanwhile track meets, road races, trail races and cross country meets are happening throughout the globe, yet the college teams in the NCAA are begging to have a season because the people who make those decisions only care about Power 5 football and basketball money. If the sport took care of itself with a club system then the show would just go on.