You are both looking at it from 2 different views and over-argueing.
@Eielson makes a great point though, I know former athletes who think the transfer portal is a godsend. Not for the top tier spending we are seeing, but for the players that get bamboozled by coaching staffs.
(Scenario 1) Imagine deciding how you want the next 4 years of your life to plan out. The coach says, to sit a year, learn, then you will be the starter if you work hard enough. The next year he recruits a 5-star. You think you have a shot to compete, then the next year the writing is on the wall and you know he won't ever play you. You then have to transfer, sit out another year, then have 1 year to play. (That was pre-transfer rules abolished) (redshirt not withstanding)
(Scenario 2) You get recruited to play for a coach bc you love his style of play, you see what he does with guards, and you are ready to make the jump to the pros under his coaching. After year 1 of you learning the offense, he takes another job and bails. You cannot follow him without sitting out a year. So you have to decide to stay and play for a coach you may hate or know nothing about with an entirely new offense to learn, or risk a transfer, sit out to waste a year of playing, hope that you can compete and the coach doesn't promise the incumbent at a new school playing time. (potentially 2-3 years of playing time wasted, bc of a coach job hopping)
This issue has always been coaches can move around however the hell they want with no real penalty (buyouts depending) and the players literally had to waste an entire year of college play to transfer, god forbid it was in conference bc that was illegal as well.
The point is, for the athlete, the transfer portal has been great, bc it gives you more time to find your fit, leave if your coach is an ASS-HAT, and play the game you want to play.
Will there be people who abuse the system? Of course. Will there be money grabs abounds? Yes. Does it make coaching much harder? Absolutely. (You have to recruit nonstop now) On the flip side, will this mean some players will stay longer instead of leaving early to go pro? Yes. (more money in college than in G-League/overseas)
There are pros and cons. The cons, for OU, are that we are not big-boy players in the basketball NIL game and don't seem to want to be that anytime soon. So it sucks, bc as fans, we see the writing on the wall.
But to not see how good this is for players, is just holding your fandom too close to your chest.