eGaming is estimated to be about a $6B a year industry.
https://univdatos.com/report/mena-e-gaming-market/NCAA sports in total is about $19B in revenue.
https://www.statista.com/chart/25236/ncaa-athletic-department-revenue/You might not like, for example, the game of baseball. However, it is always going to be an NCAA sport because it is a money maker.
I don't see egaming as anything different from college chess teams, which are also getting more and more popular thanks to chess.com, Magnus Carlsen and Nakamura. If chess were a $6B a year industry, we would be hosting chess matches in Reed Arena as well.
People that think eGaming shouldn't be part of the competitive landscape of college activities are probably posting from their front yard, asking people to get off their lawn and yelling at clouds.