I think the PCSA is a poor proposal. The underlying principle is that athletes must allow Congress to bargain on their behalf because "trust me, bro we're fair" and that's it. It's ridiculous having athletes who finally got some bargaining power after decades of BS be forced to give it away to the very Congress that's being lobbied by powerful, big money universities and organizations. None of the problems that are being addressed requires this "solution" by any means.
Congress could create a special federal bargaining regime specifically for interstate collegiate athletics. There could be a players union similar to the pros, and they could have a CBA, a draft, and everything. Of course, they would provide the option for players to specify a list of schools (that they are academically qualified for) they would accept being drafted by so the player has some say in where they go to school. Let a professional college sports association negotiate with the players union about what percentage of revenue goes to non-revenue sports.