In the whole scheme of things, I don’t think not graduating players is criminal. In my opinion it pails when compared to accepting booster money or playing while academically ineligible. If someone has a chance at a free education and doesn’t walk away with a diploma, shame on them. Not the school.
If the NCAA wants to make grad rates relevant, they should tie fines or bans to the most recent senior class. And who are we kidding, if any penalties are ever linked to scholarships and bowls, you’ll see graduation rates skyrocket (probably through nefarious ways.)