I think this will help the middle of the pack and lower P5 teams the most in both football and basketball. They are the most credible threat to take Alabama and USC's 2nd and 3rd string, and they will be able to raid G5 schools with credible promises of playing time.
I don't see a starter on USF listening to a Florida or Alabama pitch, because he should be smart enough to see what he is up against, but he might listen to a South Carolina or NC State pitch.
Basketball will turn to chaos. You will have massive roster upheaval year to year, and like football, I think the middle of the pack P5 will really benefit. Every mid-major star wants to play against the best, with the emphasis on PLAY. Duke or UNC will probably see more departures than arrivals from this rule, but schools like Wake Forest could make out really well, telling a Jalen Adams that he will get much more exposure against better competition playing for them than for UConn.