College football will continue its downward slide in popularity over the next 20 years. The current moves are hastening its demise, as college football will never be a national sport. It's regional and always will be. Like anything else driven by publicly traded entities, these moves are too focused on short-term profits. The result they're driving towards will simply be a watered-down NFL, and fewer people will have any interest in it. It doesn't matter as football as a sport is waning and younger generations just don't care as much. The strongest fan bases being relied upon are in the Midwest and the South, two areas not exactly chock full of fat wallets that are attractive for advertisers (there are only so many side-by-sides, cheap beer, and camo snake boots you can sell).
The other result of all of this will be football programs divorcing themselves from universities entirely and operating as for-profit entities with licensing deals in place with the universities for the use of names, mascots, logos, etc. And while I think it will take closer to 30 years, the end result will be college football on par with any other minor league sport: a smattering of fans, a fun Saturday night out, and that's about it. There is no way what is shaping up will ever work without radical changes to federal law. Title IX lawsuits alone will end most of what's already going on, and this will drive the shift to privatization of the sport. It's a shame watching something that was never really a true sport given all the rampant cheating that has gone on for over a century, but still provided incredible entertainment value, turn into something empty and soulless. But that's what's happening, and nothing will stop it.