That is absolutely crazy. You will have 26 year olds playing college football, or basketball.
Imagine that scenario as I am told by Alabama that they will take me in a couple of years as a Freshman, after playing 2 years on a JUCO (essentially a JV team), then I come in and red shirt another year. If I go to BYU, I might as well red shirt and go on a mission for 2 years as well.
This will only help the big schools as they will use JUCO schools with overflow players to build them up and come in as Freshmen. I just don't see how this is good for college football, or specifically for the non Power 5 conferences.