If these guys didn't have such emmense greed(players) they'd be fine.
These guys get free room/board/education(It's not the schools fault if they don't care about a $100,000 education) and the biggest thing they get: Promotion.
Their games are shown every week and their highlights are on again on Sportscenter. You can create a fan base before you even get into the leauge. Do I think it's a perfect system? No. But to say that the kids are Slaves is completely wrong.