The record setting viewership is as much a product of more games being televised as anything to do with interest levels in college football. Until recently, fans of a smaller school had to hope they would have a game or two televised each season. Now, with streaming, pretty much every FBS and most FCS games are able to be watched. The NFL has huge viewer numbers (at least huge relative to today's tv market) because NFL games are one of the very few things a reasonably large number of people watch today and is also one of the few live televised events. With hundreds of tv channels and all the streaming platforms like Youtube, Hulu, Netflix, etc. the tv viewing market is incredibly fractured. The NFL averages 17 million viewers per game over all platforms which is an impressive number but, again, the availability of streaming has really boosted the numbers. There are about 125 million tv households in the US, so even the NFL is only drawing about 14% of the total market. Only 5 FBS college football games drew 17 million or more viewers in 2023. With a US population of around 335 million, the percentage of people watching college football isn't really that great. Living in the South and being fans of an SEC school, I think we tend to overestimate the popularity and importance of college football. If you travel much to other parts of the country, you will find that college football is much less important to the people who live there.Only by your definition which I hate to break it to you, means nothing. The masses will continue given that viewership in 2023 was among the highest it’s ever been. But it’s ok chicken little the sky will still be up there in the morning.
Here a few things to think about regarding college sports going forward. If players become employees, have a union, etc. how will teams require them to be students? There is no requirement that any other employee of an athletic department, school, athletic association or professional sports team be a student at a school. Players will not be employees of the school, they will be employees of the athletic associations that control the sports associated with a given school. Being a college student is in no way a BFOQ for being a football player (having to maintain a certain gpa even less so). If athletes want to share in the profit will they also be willing to share in the losses if the athletic program or team loses money? Everyone wants a share of the revenue but nobody wants any responsibility for the expenses. Will the schools let these new professional sports teams use the school names for marketing and allow the teams to use the facilities owned by the schools? What reason would a school have to give a scholarship to a student who makes $100K+ a year playing a sport? Where does the money to pay the players come from? 90% of programs operate at a loss every year and rely on student fees to break even. Do regular students have to pay higher fees so some professional athletes who are employees of a separate entity who may not even be students at the school can be paid? What happens to non revenue sports that operate at a tremendous loss and those athletes have little to no NIL opportunities? Do the softball, golf, tennis, etc. athletes become employees and get paid by the athletic association too?
As with most things, the devil is in the details.