I think a minor league and college basketball system could co-exist and is the way to go.
Let the NBA caliber players go pro, either NBA or Development league out of high school. And let the vast majority of players who will never play an NBA game get free tuition, room and board along with great training, top rate facilities and free clothes. (But Does the NBA want to foot the bill for a true minor league? It's something I don't hear the basketball writers discuss much when they talk about paying college athletes)
When you root for Dayton your team rarely gets those NBA players anyway, so I'm fine cheering on the other guys.