I am all for this. More schollies and wood bats are a good start.
At the same time they need to consider adopting the football rule of being on campus for 3 years before drafting. The basketball rule needs changed to that as well. One and dones are bad for all college sports. If more money comes in the schools can then afford higher quality coaching to develop players for MLB, like college football does for the NFL. This reduces the need for as many Class A and lower developmental minor leagues.
It would be a big help to major college programs and attendance would increase big time. Nothing but pluses for MLB to step in and assist.