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Which makes sense until you start looking at what you mean by Steelhop
by that. Most people think that only means the revenue producing sports - football and men's basketball. But, as soon as you pay them, you also have to pay your scholarship non-revenue sport's players the same amount. This why about 5 years ago the NCAA was said they were thinking about it but ran the numbers. Just not going to happen.
I can get behind a likeness revenue type of model but, as someone said, the school should get a cut of whatever a player generates e.g. does the ND player wearing no 3 get someone to pay for his autograph because he is good or that number 3 is a big number in ND lore. My guess is that it is a little of both.