I just don't think this hurts anyone who's actually guilty. The vacating of wins, I'm totally cool with - that's a good way to send a message to Paterno and I guess the administrators.
Unfortunately, the fact that Penn State is continuously referred to as if it's a sentient being leads people to point their fingers at an abstract culprit rather than the real, human cilprit who were purged from the university when their actions were discovered.