I've been thinking a lot about NIL and portal over the last year, and while I do think something will happen in the next year, who knows what it will look like.
I think the key piece to all of this will be revenue sharing and collective bargaining. The NIL collectives are, frankly, 1) insulting, that a group would pander to the fanbase to contribute when there are billions of dollars being made off college football already, and 2) horribly regulated.
The players need to be employees of the University and share in the revenue that gets generated, and it will keep them tied to that university because they're an employee with an employment contract.
The question, in my mind, is how do you prevent schools from paying players enormous amounts of money, when other schools won't be able to keep up. I think the answer is having a salary cap in place in terms of what a team can cumulatively pay players. You could also do it where you have only so many scholarships that can pay up to a certain level. Like say only 10 scholarship players can earn $500K - $1M, and 10 scholarships can pay $250K - $500K, etc.
I don't know that there is a great answer that exists, but there might be. I just want to see the best of both worlds where the players can profit off themselves, players aren't transferring ever year for the next best pay day, and some stability is re-instituted into the sport.