Scholarship athletes are provided free tuition, room & board, top-notch medical, free, 1st-rate tutoring, fantastic meal plan, etc. Comparing them to general students is not apples-to-apples.
You damn sure don't want most schools becoming farm-teams for the elite blue-bloods. Those teams already have a huge advantage. Can you imagine Saban being able to cherry pick the rosters of other teams, going for the proven players...the cream-of-the-crop, with a promise of more national exposure, better shot at NC's, etc?
If they do actually allow unobstructed, free transfer, I suspect you'll end up with an even more top-heavy D1. Sure, some really good players not getting PT at elite schools could transfer and contribute immediately at non-elite programs, but I think you'd find the elite programs realizing even more talent separation, making it even less likely anyone other than a blue-blood will ever compete for NC's. I believe they would load up with proven stars from other teams.
That said, if they do allow that, I hope they will at least make a provision that allows programs to offer greater-than-1-year scholarships that bind the athlete to the school for the same number of years.