Did your work as an intern directly result in your company making tens of millions of dollars annually?
1 player is not making tens of millions. The team as a whole did, including coaches. These kids have access to resources and jobs that the average student doesn't after school, and that is if their dream of playing professionally doesn't pay off.
And we are talking about basketball here. Basketball has a gross revenue of $16-20 million per year, but only nets about $3-5 million per year after expenses. The football program typically nets $30-40 million, so there is a greater argument there, but there are also 85 scholarship athletes. The athletic department as a whole actually makes a profit of about $10-20 million.
FYI, my internship did result in me bringing in over $1million in gross revenue in the year that I was there. Not quite what athletes help bring in, but still quite a bit. I wasn't paid a dime other than given a recommendation and having a former boss who is as good a reference as you can have given what his position is now. Last year I brought in nearly $4 million in revenue by myself at my current company, and had a margin of $1 million. I didn't see anywhere near that as far as salary goes, but I knew what I signed up for.