I think we're starting to see the beginning of the end of college football as we know it. The P5 conferences have already made the NCAA a completely worthless regulatory agency simply because of the amount of money coming in to these programs. If the NCAA does anything to fall out of favor with the P5, I can see the P5 splitting entirely and forming their own football league that is loosely affiliated with the university. The NCAA is completely powerless, because without P5 football they lose a huge revenue source too, so the NCAA will bend over for the P5 at all costs to try and remain a functioning entity. They've already given in on paying student athletes, what's next even more lax academic requirements? I'd imagine so. Essentially we will start seeing a minor league for the NFL, then everyone else that can't afford to keep up will be playing football at a level that receives DII or DIII attention(championship games only).
I hope I'm terribly wrong and being shortsighted here, but this is just my gut feeling on the future of college football.