If this is the case, isn't this an absurdity at this point? Money should not be an issue. Or is that just a naive perspective still?
There are a couple things I think might be going on...
1). ND's Rev Share is pretty much set because there isn't much wiggle room there.
2). I highly suspect that ND has access to more NIL money than they are willing to spend. What I mean by that is that ND is a very lockeroom driven, close knit program. I doubt they're just going to start paying mercenaries huge sums of money that dwarf the top players within their program, throwing off the team component and overall vibe of their lockeroom, that they so heavily rely on. They'll do it in individual cases to fill a need, but they won't do it in "luxury" areas.
3). Like it, or not, ND didn't get as wealthy as they are without making prudent financial choices. They're simply not a school that is going to buy a championship. They'll spend enough to stay competitive, but I don't see a reality in which they'll break the bank simply to win a title.
I think it was John Brice that reported that last year when Ohio State won the Natty, their athletic department posted $-30 Million in revenue. They were wayyyyyy in the red. A huge component of that was how much they had to pay the football team. I just don't see ND going down that path.
JMO.