I think we are top 5-10 in revenue...still have a national fan base and still high engagement rate when it comes to eyes seeing ads and such. I think NIL donations will begin to taper as the money dries up across the sport, it was a new thing, a wild west sort of thing where rich people felt they could really change the outcome for their team.
But there is only so much money, and the younger generations just do not care as much, nor are they as wealthy. There will be a limiting factor and the top teams will cut lose the teams like Rutgers, Maryland, Mississippi State, Kentucky...the whole big 12..teams who need revenue sharing to survive. Do we really need 65 teams to decide a national champion when 30 of those are being subsidized to compete? Two 16 team conferences, four 8 team divisions. Four division winners, 4 wild cards. 8 team playoff. Bring back regional divisions...and maybe the "losers" of this system can play in a lower tier and earn a promotion based on revenue and donations. Possibly a promotion and demotion system like soccer.
It seems crazy but who would have thought that Oregon would be playing Indiana in a playoff game with their fourth team running back as their starter, who had to remove himself from a transfer portal because Oregon didn't have enough players to attempt to win a national title.