A group of schools/conferences could make the decision that they want to send their champions and other top teams to an event other than the NCAA Tournament. Think a BCS operated NIT.

Ok there is a rule against doing that, but it was being challenged on anti-trust grounds and in mid-trial the NCAA wrote a fat check to buy the NIT and put an end to suit.

A BCS/NIT could tell the bottom twenty leagues that their champs will be assigned to one of four regional qualifier tournaments with three at-larges per region to play their way into the BCS/NIT picking up lesser shares unless they successfully play in or only the top eight highest rated champs might get from the bottom 20 leagues.

Putting the NCAA Tournament out of business is not that huge of a challenge just takes the effort to sue the NCAA and then prevail if you can't get the rules changed.

The universities are like many businesses; they create or hire a third party to deflect. Can you imagine of the presidents of Ohio State, Michigan, Alabama, Florida, Cal, Texas, San Jose State, and Syracuse had to judge the Penn State situation, dole out a punishment, and then enforce it! That would be a P.R. nightmare. But, when the NCAA does it, there is a party to deflect the blame. Is the NCAA much more than what I described earlier, though? Not really. It is the organization used to separate the schools from the business aspect of sports. I say all that to say that no universities are looking to abolish the NCAA unless it gets to be such a negatively viewed institution that they have to replace it with a similarly functioning body under a different name. It would just be re-branding (see BCS --> College Football Playoff).