Personally, I don't think it's worse than the death penalty. I think it's as close as the NCAA is going to get to the death penalty again. Look at the difference in money that's involved now, as opposed to 25 years ago. What would the NCAA's answer to that be for the other schools that would become involved if they canceled the season?
When SMU received the death penalty, they were also already on probation for doing the same things they were found guilty of again. The scholarship loss was not as significant, but the bowl ban is longer for PSU. Also, I don't think SMU was monetarily fined at all. $60 million against a university is a BIG deal. Who knows what the effect of that will be?