I very seriously doubt there will ever be another death penalty.
What people hoped Auburn and Oregon would get busted for would be for actual cheating, though. What happened at Penn State was a heinous crime, but calling it cheating (i.e. anything where the NCAA is concerned) is more than a little bit of a stretch.
I don't even like that model though; I do much prefer show-cause, barring coaches and other cheaters from working for NCAA member programs, rather than laying waste to the actual program itself. How often do we see one program get leveled while a cheating coach skates onto the next job? As for players, not much the NCAA can do besides strip them of all eligibility, which is what they already do.
Regardless of what Emmert said, which IMO contradicted much of earlier things he's said and was mostly bluster, I have yet to see anyone point to an actual NCAA violation that Penn State committed, and no violation ought to mean no punishment.
This will obviously be a cautionary tale of power and sway that college football has in some parts of the country, but I am so far unaware of what the actual ground the NCAA has to stand on to shut it down.
http://compliance.pac-12.org/thetools/instctl.pdf
There is the official Pac-12 document that outlines the NCAA definition of institutional control, and it explicitly states that NCAA violations must have occurred for LOIC to be leveled.
While, as I mentioned, what happened at Penn State is a heinous crime, there is absolutely no way, shape or form that what occurred was in any definition or any plausible sense a violation of NCAA rules.
What would be unprecedented about this case is if Emmert decides to punish a program that did not break a single NCAA rule.
I'm not completely opposed to the suspension of Penn State football (although I think the social and economic cost of that would likely devastate central PA for decades), but if it's going to happen it has to be Penn State that decides, not the NCAA.