I agree 100% that the not playing football will be devastating to the universities. And I honestly bet it happens in some format (DESPITE MY STILL PRESCIENT CALL THAT IT WOULD NOT). But, there is a zero percent chance a general student population doesn't return to (most) campus this fall. there is not an appetite for it from the students, their parents, the government, or the institutions. The only ones who DO have that desire generally don't have money in the pot (there are exceptions obv). It being the "Right" thing to do is a tertiary factor unfortunately.
As a separate point I'm glad it's a wake up call for universities relying on sports revenue so much now, leading into player professionalism, which will happen.