Ah, the inevitable retreat to "reportedly." Reported by whom? By the athletic departments themselves, those paragons of transparent accounting? Do you even comprehend what "lose money" signifies in that context?
Define "lose." In university accounting, "loss" is an engineered artifact. You burden a revenue-generating enterprise with the salaries of a bloated administrative aristocracy, with palatial facilities, with debt service on stadiums, with the costs of the very non-revenue sports you profess to cherish, and then you declare the enterprise insolvent. That is not economics. That is bookkeeping as propaganda.
And "programs" — what sleight of hand is this? You slide from the labor of specific athletes generating specific broadcast millions to an aggregate departmental balance sheet, as if the quarterback owes his unpaid status to the equestrian team's travel budget. Utter category error.
Then you abandon even the pretense of reasoning and invoke your "gut" and what "feels wrong." Your viscera are not an argument. Your feelings are not evidence. That you cannot argue the distinction you just conceded yet still cling to the conclusion exposes the entire operation: sentiment in place of thought, paternalism in place of justice.
If an administrator elects to amputate wrestling rather than trim a coach's seven-figure bonus, that is extortion, not necessity. To sanctify that threat as moral concern for small sports is intellectually bankrupt.