The product on the field is very good these days. That follows advances in nutrition, S&C, and coaching, all beginning at the HS level. Yes, money has purchased part of that, but not all of it. Many of those players who end up coaching are ones who didn't make it to the NFL. Coaching at the HS level is much better today overall than it was back in 1974. I'm not sure college coaching is as much, but probably somewhat. That is due to more former players at high levels entering the coaching field - an unintended consequence. I don't think many want to go back to 1974 for the CFB game itself.
Where the greatest effect of today's money is felt, IMO, is in the absurd escalation of coaches' salaries, constantly upgraded state of the art locker rooms and other facilities designed to catch recruits' eyes, expensive means of travel - such as helicopters, significant expansion of staffs, the rampant cost of "education," and now NIL. None of that, except staff expansion, really improves the game on the field but it sure explodes the cost. It's ludicrous that a college football coach makes over 10x what the President of the US makes, or research scientists seeking cures to disease. Yet, that's where we are. You may love it... I don't. It's not helping the game at all, IMO.
Few oppose the right of an athlete to market himself. No issue there at all. But that is not what all the money is about, and it is flowing so freely - like a narcotic - into the game today that the game is now hooked on money. Yes, it has always taken money to pay the bills. That is no different today than 1974, or 1954. But the money it requires now to run a "successful" program is decadent, again, in my opinion. There's a huge magnitude of difference in what we see today in AA budgets and what it took to run the non-profit AA back in 1974.