The NCAA continues to prove its sliminess, and really never should have put the burden on that player to begin with.
On a more personal note, however, this was just catastrophically dumb on part of this kid. Just demonetize your account for a couple of years, dude. YouTube (and other social media platforms) will be around a lot longer than that scholarship would have been. I believe I read somewhere that his family did need the money, which I can understand (and yet even further confirms the sliminess of the NCAA), but if I was his parent, there is still no way I would let him throw away a free ride over a YouTube channel.
I'm not familiar with the rules of other collegiate governing bodies. I wonder if he could transfer to an NAIA school?