Because it's absolutely essential for having some semblance of competitive balance? That argument just doesn't make any sense to me. Coaches coach, and players play. There isn't another sports league in the world (at least not one that anyone cares to follow) where players can chose their team, make an unlimited amount of money, and switch teams from year to year to the highest bidder. Not one. Why do think that is? Is that just the way it worked out or does everyone involved in sports understand that that is just how it has to be.
If the NFL, MLB, NHL, and the NBA decided tomorrow they were going to do away with drafts, salary caps, and multi-year contracts those leagues would be an absolute shell of themselves almost overnight. 2/3 of the teams would have no chance of competing, much less winning anything of consequence, and that's being conservative.
Besides, I've always heard, "well, if the head coach leaves, then the player ought to be able to leave too and play right away because the coach doesn't have to take a year off". [ What the heck? ]? How do we even know the player picked the school because of the head coach? It might have been because of some low level assistant. Or because his girlfriend went there. Or it was close to home. The player might actually hate the head coach and wish he would leave. And it's not like requiring a kid to sit out a year for transferring would be like a death sentence, it worked fine for 100 years. They could still transfer. And since when in sports do players always get to choose their coach?
We're going to find out how much TV network marketing and school branding can carry something, because the actual product from a sports fan standpoint is garbage. Just like the other major sports leagues would be if they took out all the guardrails around player acquisition and roster makeup. I think we're already seeing cracks with ratings dropping and the constant changes in the playoff structure to try and desperately add money. There used to be valid reasons why people preferred NCAA football over the NFL. Now there are none, unless you want to stick your hand in the sand and pretend like those jerseys mean anything more than a means to take money from you.