I haven't watched today's yet but he has a point. I think in the past he's been in favor of athletes earning money from brands/companies etc. based off actually doing advertisements, etc. for them. But he's against "collectives" and whatnot just handing out cash for going to a certain school.
Yes, you can make the argument that an NIL deal is worth "what someone is willing to pay," but in reality, 4th & 5th place finishers are not bringing in $200k+ of revenue or whatever the rumors have been. I think his follow up point is usually that after a few years and they realize they're not getting much return, that the money could dry up.