It's a little like the jury system. The question is not only whether juries are better fact-finders (than judges making the decisions) but also whether the public's confidence in the outcome is greater with juries. The real effect of NIL on small market schools may not be that significant (I tend to think it will be), but it may be that fan confidence (lack of) in the fairness of the system will still be a problem.
A daughter attended Emory, which is in N. Druid Hills, which is not as close to downtown as it looks, if you go by driving time. Alpharetta is a haul from the city, but the money in that town is north and west (Buckhead).