There are a lot of reasons to care, even for those of us who support the idea in theory. There's a lot to work through.
How does this work with agreements the schools have? What happens when a RB endorsed by Nike refuses to take the field in an Adidas jersey? Or perhaps more importantly, how much influence will the shoe companies gain beyond what they already have in recruiting?
What about non-competes? Can I pay a monster middle linebacker to hawk my cleaning products but only if he agrees not to transfer to UGA in the next three years?
Will there be a place for incentives-based contracts? Will that implicate gambling laws? Will players have standing to sue for tortuous interference with a contract if a coach doesn't play them for arbitrary reasons?
Michael McCann at SI is putting out some great stuff on this topic for those interested:
https://www.si.com/college-football/2019/09/30/fair-pay-to-play-act-law-ncaa-california-pac-12