I agree this is driven by the football/basketball, and it is a one size fits all approach. That much is clear if they leave out the Olympic redshirt. I disagree that it will decrease fundraising. Free transfers, and the ineffectiveness of the CSC/NILGo make spending money more effective than ever. Just ask Indiana football. Fundraising will become even more emphasized than ever. And with the right pitch, it will become more effective. Of course, with the wrong pitch....
I disagree about hurting lower level teams. I think this has the potential to help them as logjams at top level teams cannot be resolved with various shirts. Instead of sitting a year, or two, at their top pick, a wrestler may expand their search and go somewhere else. There will still be teams saying if you sit a year you are not losing anything relative to prior to the rule change. But what you lose is optionality. If you volunteer to sit a year then get injured, you forfeit two years. And in a sport where every single person gets injured, that option has a lot of value. No sense giving it away for free.
I agree this has the potential to damage the Olympic program. There are not a lot of Kyle Snyders out there who can do both at the same time, and nail it. Depending on the timing, some may take a year off of folk, like happens now, and choose to only wrestle four collegiate seasons, or do what you said and end their college career early. Others will just delay their international aspirations.
I am a big fan of fixing the Olympic shirt rules. The AJ Ferrari version of the Olympic shirt violates the spirit of the rule, so it should also be made to violate the letter of the rule. Not sure what to do about hardship waivers.