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I think the bigger issue is the lack of scholarships for non-athletic activities. There are many other things that colleges and universities could give scholarships for that would foster a more diverse and inclusive student body, but the preferential treatment given to athletes actually impedes that through diversion of funds.

I was rather happy when my alma mater decided to use a pile of alumni association money to build a massive LAN center and start pro e-sports teams instead of starting a football program. The e-sports program will give scholarships not just for the gamers, but also for theater kids that become shoutcaster personalities, and they use the LAN center as a way to beta test the games coming out of the game development programs. They really emphasize the educational aspect of it as well and push the gamers to get involved in game design or creative writing majors/minors so that their scholarship activity can actually benefit their career after school. It does help that the school is down the road from Acti-Blizz, so internships are plentiful.

There are other ways for the schools to support potentially profitable student activities that don't exclude people unable to participate in sports.