There are 3 scenarios. 1) Remove the CA schools from the NCAA. This likely results in a Division 0 which P5 schools have been pushing for and to leave and do their own thing. 2) Let CA do their own thing. Great for CA, and then other states would push for and the same thing. 3) Change the NCAA rules to allow the same thing as CA.
Don't know which one, but I think times are changing, and it's unlikely it's going to be as simple as the NCAA squashing CA.