They're starting their demands high, like everybody does. But, basically in the range of industry standards.
Their plan to distribute the revenue share equally with non-revenue sports does not make any substantive difference to the schools' costs. It's actually a financial negative for the football and basketball players.
And, the whole point of the pay-to-play movement is that schools need to stop spending millions of dollars on other administrative costs, and pay the players directly, instead.
The entire financial model of college sports needs to be blown up - and frankly, that's true whether you believe players should get a revenue share, or not.