The "funds arms race" is an interesting problem and it directly led to D1 P5 essentially breaking away from all other NCAA divisions.
The
#1 goal of competitive private universities (i.e. Baylor, USC, Miami, Vandy, BC, Wake, TCU, et all) must be to spend every dollar as wisely as possible.
Look at Oregon's AD palace...it is beyond over the top and wasteful...how many NC's have they won? UT has massive sums available as well...when was their last NC? Bama is obviously the current king of the hill, and their facilities border on stupid (ferrarri designed leather chairs in film rooms), but the key to victory with them is staff from top to bottom. Yes, facilities can be eye catching (water feature in locker room anyone?), but there quickly becomes a point of diminishing return.
Saban and his staff could coach a competitive CFP team in a broken asphalt church parking lot.
Again, the key would seem staff...staff...staff first and foremost and then resonable facility and/or amenities enablers to assist in their tasks.
NCAA needs to figure out someway for a program "spending cap" or only a few programs will really survive and remain competitive over the next 20 years.