It has been my experience that there is a boatload of reasons why a student/athlete chooses a college and there are almost as many reasons why they may choose to leave. Inevitably, academics is very high on the list of most Ivy/Patriot league schools and athletics is a means to the end.
As you say, balancing academics and athletics is no picnic but those who persevere are typically in a very good position to thrive in the real world. They not only get a great education but they learn all the necessary life skills to succeed, including teamwork, time management, leadership etc. In the pre-schollie days, many of those who struggled on this front would simply leave the program and focus on athletics. Their need-based scholarship was still in place. Some of those will likely now choose to leave the school. Please keep in mind though, many students get homesick, are tired of fighting injuries, get disillusioned with PT. I think scholarships are having little or not impact on the few who left.
Just my opinion.