In this far ranging discussion, a number of different issues have been debated.
Costs of college crept in. In addition to not being a subject for this forum, there are probably a million differing opinions on the subject from numerous different angles. Not going there.
As to student-athletes being "paid" via their scholarship, books, per diem , et al - in a certain sense, they are. They have essentially contracted their services as an athlete in exchange for the selection of items they currently receive. I'm pretty sure not one athlete is forced to attend a certain school for this benefit. If it doesn't work, they don't have to go.
That said, I would argue that our current system of using college as the minor leagues, particularly in hoops and football, results in a lot of folks in the school that don't necessarily belong there. Not everyone - and not every athlete - is prepared for a college education. Lots of jobs - and well paying ones - in the trades and through technical school, for those who are not going to have a career in athletics. And in some of these sports, the athletes leave early in any case and don't graduate - either at all or until later.
I would argue that athletes should be able to profit from at least some aspects of being a college athlete - the school should have certain retained rights (game images, for example) and the athlete should have the right to contract use of their name for selling merchandise (uniforms, bobble heads, whatnot) outside of the school. Details I don't know, but makes sort of sense to me.