Look, I get the appeal of paying athletes. They generate millions for schools and risk their bodies. But here's what bugs me: a scholarship is already compensation. Tuition, room, board, books - that can be worth $200,000 over four years. Most students will never make that kind of money from their degree that fast.
And honestly, where's the money coming from? Most athletic departments run in the red. Only a handful of programs actually turn a profit. So you'd be cutting sports that don't make money - think track, swimming, gymnastics. Title IX would get wrecked too.
I'm not saying the system is perfect. But paying salaries would turn college sports into a minor league system with all the problems of pro sports and none of the educational focus. The scholarship model at least keeps the "student" part in student-athlete.