I don't object that college athletes are not paid by the colleges. The athletes do get benefits from the college (a scholarship), in theory money generated for the college goes not to individuals for profit but to the general improvement and well-being of the college, and all college students and alumni are asked in different ways to contribute to the college community.
But I'm always disturbed by the way private corporations--which do exist for the purpose of individuals to profit--are able to exploit unpaid college athletes. Have you ever thought about the fact that corporations are advertising during games played by unpaid athletes? What disturbs me is that the companies are able to use the activities of unpaid college students to promote their products and services, thereby increasing sales, thereby leading individuals in the corporation to profit. Lots of corporations promote their products and services during the activities of unpaid college athletes with the intention of making a profit. Is this exploitation?
Student athletes benefit the college and get benefits from the college. That's fine. But its disturbing on several levels the way for-profit corporations are able to exploit unpaid student athletes.