Agreed it's extremely hypocritical to support current sports but say this isn't value. If revenue was the basis for sports then all women's sports would be eliminated bc they make no money.
Oddly enough, at the U of New Mexico two women's sports are self-funding or bring in revenue (skiing and beach volleyball). Women's basketball is a money-maker. Of the men's sports, the only self-funding or money-making sports are skiing and men's basketball (some years). Their football program bleeds money to the point where it's endangering the entire athletics program but it's a sacred cow so reducing its budget is not on the table.
Meanwhile, in the US and Canada women's professional soccer generates more ticket sales than men's. In 2016/17 the US women's national soccer team out-earned the men's national team in terms of merchandise sales and ticket sales, partly because they played more games. Despite this, they received less in pay (because vagina).
Personally my opinion is the complete elimination of all sporting Scholarships and sports as a center entertainment for society at it's current level be eliminated. Most great cultures in history fell due to sports becoming the thing everything revolved around.
Sports scholarships started out as a way for talented members of the working class or even the underclass to earn a university education. Because kiddie sports have turned into a huge industry, most of the scholarship opportunities are being monopolized by kids whose talent has been expensively nurtured from a very early age. So, I agree with you about the sports scholarships. They are no longer an opportunity-maker, except to the extent that they serve as affirmative action to get young men from moderately affluent backgrounds into colleges and universities where they are presently underrepresented in the student population.