Correct. The current system is unsustainable—but not for the reasons that many think. I think it would be more on the line of when the market corrects itself, meaning, fans shell out a ton of money for "high quality" players and end up not reaching the fans' expectations [*cough* GW *cough*]. Two or three seasons of "failure" and the money flow stops. Then and only then will these "donors" start to realize that throwing their money away over such a "bad investment" that may not pan out as planned Is fool hardy. Let the market do its work.
Yes, changing the current system has to be done wholesale. If only a handful of schools do it then I don't think the rest will follow—the others will take advantage competitively, swoop in, and scoop up the disaffected players. There's no player's agent anywhere who would advise their client to voluntarily accept such restraints on movement and potential dollars without additional compensation. And that means even more dollars are needed. There has to be a restrictive rule for all or a rule for none.