I think it has to do more with why one watches/cares about college football. If you're in it strictly for fantasy purposes or just enjoy football, this probably isn't a big deal to you and you'd fall on the side of "sticking it to the man". However, if one roots for a SCHOOL to do well in sports because one takes pride in "their" athletes, and the community/state they represent as student-athletes; and donates money to ensure that the PROGRAM is in the best position to succeed, one may feel the opposite.
IMO, the money generated should go to something (I'm not fully sure to where) that benefits everyone besides coaches, school administrators and ncaa management. In a perfect world, coaches would recruit for both playing ability and scholastic performance. They should be able to tell a poor kid with poor grades that they probably need to think about getting a job to support themselves or family, and worry about getting to the NFL when they are eligible.
Ultimately, would you be a die-hard fan of minor league football? The reason college football is so popular is the "college" part, not the "football" part. If it was the other way around, someone or some entity (the NFL most likely) would have already determine how to profit from minor league football. There's not much of a market for it.