The term came about in the 50s and is mainly used to highlight problems with the exploitative nature of the NCAA. Basically, athletes aren't being told to, or put in environment where they can, balance education and sports. Sports and selling the colleges brand take priority and colleges were known to make it easier for athletes to get through or with passing grades. Sometimes making up entire coursework for their athletes to take.
https://www.insidehighered.com/news/2017/10/16/breaking-ncaa... That obviously undermines and frustrates anyone who had a hard time in college.
My dad, who was a college athlete, used that term a lot to express frustration at systems which no longer served their purpose and were acting performatively.