Taxing would be a big change, definitely. And I'm not in favor of baseless profit-sharing, only the ability to organize & negotiate fair terms based on today's reality. Just like the other billion dollar sports leagues.
It would be VERY interesting if the XFL were able to pay kids out of high school, but I don't think that's going to happen.
I know you're using it as an example, but Google's first ever intern did receive shares in exchange for her work, is still there and a multi-millionaire to boot (
Link). That's a 'Where are they now' story on the first interns at Google, Uber, Facebook & others. They're all millionaires, some billionaires. There's always a give and take when exchanging services, especially when there are options & competition. Those got lucky, no doubt.
The difference between normal interns and college football players is interns, by and large, aren't in the 95th percentile of performance at their job. They have no clue what they're doing & exchange their work for education, which has a long tail in terms of future earnings. College football players are mostly at the height of their ability, and therefore earning potential, in that specific endeavor.
As for who pays the players, the University's name may be on the check, but that cost would be passed along in other contracts/partnerships, as well as to the conference. It wouldn't come from endowments. Adidas, Nike, ABC, etc., aren't paying any less to benefit from college football year over year, and this change would only stand to benefit them more, in my opinion.
We see eye to eye on the endorsements, too. I think that's coming very soon across the country.
I really don't think these changes would affect our enjoyment of college football in the least. In fact, I think it'd give us even more to talk about with recruiting, developing, etc. Plus, how badass would it be to go out and buy an Adrian Martinez officially licensed Nebraska jersey?!