College basketball as a viable commercial product is facing a calamity right now. So yeah, it's a problem for Kentucky and everybody else. And I know someone will say, "what about team X or Y or Z who this year kept player X or Y or signed players A,B and C..."
Sure, there will be winners and losers in the Portal Roulette, based in part, ironically on who LOST in recruiting and so has playing time for a transfer looking to audition all year for the NBA. But overall, the entire sport is a loser. Let's say you are Duke with a roster of returning players and highly rated recruits. That looks great on paper. But all those guys are fighting for immediate NIL opportunities and to shine for the NBA. And if things are working out, hell, they can transfer in November. I wouldn't be surprised at all to see a wave of November defections this year.
It might be fun for one year to have a Sweet 16 without Kentucky, Kansas, Duke or North Carolina like last year, and see teams like Florida Atlantic and San Diego State advance. But when every team basically starts from scratch in late April, that could become the norm. And that would be terrible for the sport because outside three weeks in March, only the fan bases of the traditional powers give college basketball the foundation to make it a commercially viable sport.