I don't think it is a "stupid" argument at all. Scholarships can be valued at upwards of 200,000 or more for the four years. Plus it is not just that, but the room and board, the food, the personal trainers, etc. as I already mentioned.
Ya, it is not cold hard cash, but that doesn't mean the value should be undermined. Plus, how many of these kids actually go pro? Most of them do not. For a number of them, maybe they would not even go to UNI if not for playing a major sport. So they are being given something, a scholarship which impacts their future earnings, basically has a positive net effect for the rest of their life that maybe they would not get had they not played sports.
Again, a better solution for the money being generated by sports is maybe to give back to the UNI in the form of a general scholarship fund so everyone benefits, not just a select few. That would be the best way to deal with this IMO and would be the most fair. Or, at the very least, get rid of the benefits of a scholarship, etc. if you pay the athletes and then let them use the money earned to pay for all that, as I said. I think your average athlete will quickly realize just how valuable that scholarship is in that situation.
What is that?