This has a lot of ramifications and future issues that will be raised.
For example will athletes be able to "opt out" of scholarship for straight cash?
What will happen to revenue losers? End of wrestling, tennis etc.?
What about Title IX and women's sports? Outside of a few basketball programs I think they all lose money.
College Basketball may have an opportunity to rethink the relationship with NBA to allow players to return as 19, 20 and 21 year old's for additional seasons.
Will football at Power 5 finally become separate altogether? Formal schedule and playoff format across the 60 or so schools? 11 Game schedule at least 8 conference games and only games against other Power 5's? 16 team playoff running from mid December to mid January?
Then there is the real unspoken elephant in the room....liability. The NCAA may now become liable for injuries sustained like an employer. That alone may shut down the sports with low revenue. Can schools sustain liability for injuries for everything from knees and joints to paralysis? Will they even take the risk?
I think 5 years from now the idea of an athletic scholarship will be a distant memory. Football playoff will become reality and college sports will openly become the big business it always was hiding behind the skirts of academia. The money will just be too big to ignore the exploitation of labor which is too often poor and completely unrepresented needs to be corrected. I think the wording of the ruling clearly drives this point home.
The NCAA probably has one shot to get its house in order before additional legal action does it for them.