My guess is that this will spell not only the end of the NCAA, but also the end of what we call the FBS division of football. There will most likely be more movement between (or even complete dissolution and reformation of) conferences too, with teams choosing to align with other teams that can agree on a set of unifying rules. Obviously there will be one or more new central governing bodies for each new division and/or conference, because you can't have an interstate sports league where every state decides their own rules.
Nobody seems to dispute that college athletes can receive payment for their name, image, and likeness. So, the dividing principle seems to be "pay for play" vs NIL, and how those two concepts will be defined and regulated. I don't see the US Congress or the court system as having any chance of settling these issues in the next 20 years, which means we're headed for a restructuring.
Eventually, if the overall economy supports a minor professional football league, it's possible that some subset of cfb will morph into a minor league of the NFL, with a draft and contracts between the teams and players. Some of the other sports won't be so lucky and will become heavily fragmented and poorly funded.