I personally think the NCAA is going to find a way to nail him over this and don't figure he will be eligible for the season. I don't know how you could believe that he hasn't been compensated for all this somehow so the charges against him are probably true.
With that said, I don't believe in paying players at all, however, they should be able to take advantage of their own name in anyway they see fit. If they want to sign a jersey and sell it so be it. As long as it isn't a booster buying it (I could see the issue there), then the NCAA really should just keep their nose out of that. High profile kids will go to high profile programs regardless of all these rules so the whole illusion of competitive parity would pretty much not change at all.