It's a nightmare. And putting all of this out there on the front yard is a major mistake. Being able to enjoy the benefits they did without the public 'knowing' (even though it's always been an open secret) is also something they're going to miss because it gave them the freedom to be kids and a level of protection from both criticism and the full consequences of their mistakes. However, driving around in a fancy car while talking about your endorsement deal is everything everyone hated about Johnny Football and why there was no shortage of people waiting for him to crash and burn. Now we have players and recruits that are gainfully employed adults who are making more for riding a bench or before they ever set foot on campus than many fans will see in a lifetime. It's going to build resentment. The type of thing we used to write off as dumb college kid being a dumb college kid isn't written off so easily when the kid in question has a contract, pays taxes, and is a participant in the adult world in a way normal college kids aren't.
There's a reason we don't consider enlistees in the Army kids the same way we do college students -- the ones in the military (or working civilian jobs) have been handed both a paycheck and adult responsibilities. With those checks, cars, and trucks being handed out publicly and legally college athletes just got handed adult responsibilities they never had before.
