While it is indeed unfortunate for the individual students who have been impacted by this, the problem is the football program itself. The reason that Sandusky was protected and his actions covered up was not because the man was loved by the administration, but because they felt that a scandal would hurt the football program. The message must be sent that the football program cannot be and will not be more important than honesty, integrity, and the safety of human beings, both adults and children.
If the program had been allowed to proceed unscathed, the message would have not been the same. Now, while it is indeed unfortunate for those attending there on football scholarships, the overall message is that the football program is not and should not be the most important and sacred, untouchable part of the college program. What is and should be most important is education and welfare of the students in the university's care. If they don't get to play football, it's not the end of the world.