Let's break it down into revenue sharing and NIL. First revenue sharing.
If you look at the typical P4 athletic department, there is tons of fat that can be cut, but there was little incentive to do it before as long as you broke even or came close. I think what we are seeing is a reordering of where the money is being spent, shifting from administrators to athletes which is a painful restructuring. Spending 20% of revenues or less on athletes does not seem unreasonable to me.
As for NIL, that has gotten out of control as many schools are taking money from donors and giving it to athletes and calliing it NIL when it is really pay for play. I think that will calm down over time as schools/conferences will try to reign it in. Do you think the traditional powers want to see the Indianas, Dukes, Vanderbilts, SMUs,... compete with them year in and year out? Real NIL, like what Strong and Demary are doing with Jordan's Furniture will still be allowed.
Finally, donors directing money to athletes will ultimately crimp spending on facilities. Hopefully, your school's facilities were updated in the past few years.