Something like how it's managed in the pros are going to have to happen at the collegiate level or it's going to spiral way out of control.
NCAA is the governing body; yet they basically do nothing. Universities and athletic programs have basically agreed to abide by "rules" to participate within the governing body.
As for your other remark, That's private sector....so, yes, it is vastly different. But even there financial rules so to speak. But no. Government has not business capping private sector as the State has no business owning private sector commodities.
Regardless, there are seemingly no ground rules for NIL right now. What's to prevent tampering? Or buying players off other teams? Again, even the pros have guidelines and rules for this to keep a competitive playing field.