Makes money to fund other sports, to contribute funding to education, allows student athletes the ability to earn a college degree at no cost, provides them the training to be able to pursue their sport at the professional level, and provides a venue to showcase their talent to the folks in the professional ranks who do the hiring.
If you think the only thing a student athlete receives in return for playing is books, housing, food, and the cost of credit hours, you're out of your mind. Take the entire cost of the coaching staff for a year, the cost of facility maintenance, and throw in some media production costs, and then you'll be truly scratching the surface.
The cost of base coaching salaries alone totals $92,470 per year per football player, not including coaches performance bonuses. That also does not include the training staff and physicians that take care of them. Or any other ancillary staff that contribute. Think about what a short football camp costs per individual.
Seeing the picture as the athlete only receiving the cost of the education is super myopic. If that was "all' they got, I might be able to agree with you until we got into the obvious discrepancies that allowing endorsement money in college football would cause. It's bad enough that Saban makes $11 million per year. Put the ability of Alabama in the position to secure endorsements for kids who sign there, it will be Alabama and then everyone else. That's not worth watching.