not foolish at all
1. the fans come to see the team, not the players. florida and tx am had full stadiums before Tebo and Manziel, and they will have full stadiums after. Duke, Kansas, UCLA and Kentucky all sell out basketball even when kids are just there for one year, just like they sold out when kids were there for 4 years only a generation ago
2. unfortunately, for many, perhaps even most of the student-athletes at these schools, THEY WOULD NOT BE ADMITTED if they weren't athletes. Their academic records are well below the admission standard. So low in fact, they place NO VALUE on their eduction. Classes are an incovenience to their sport. Unfortunately, in many instances this is a stance supported by coaches. Therefore, millions of dollars are invested in tutoring and academic buildings for athletes just to keep them eligible (see UNC Chapel Hill for an extreme but real example)
3. So the culture of college athletics is out of whack. These kids aren't forced to play football or basketball, they choose to.
4. The amount of gear, food, travel, medical expense they receive is surely not NOTHING or a SUNK COST as you proclaim.
5. Many are pocketing significant per diem on road trips and championship trips. many are pocketing Pell grant (over $5500 per year) that was meant to go towards their tuition. Many are given the cash equivalent of FULL ROOM and MEALS on campus, yet live off campus and pocket a significant amount of that too.
6. But you are correct, there is NO NEED for kids to be practicing and watching film and travelling as much as they do. It is not professional sports.
7. Solution....NCAA create stricter initial eligibility standards so only those who have demonstrated that academics are a legitimate pursuit in high school receive that opportunity at university. Then create stricter limitations on practice time/film time, and the amount of travel involved with a season.