Since
@JRHawk2003 doesn't understand basic math, let me break it down for everyone else:
Say FBS college football reduces the scholarship limit by 20 and Iowa reapportions those scholarships somewhere else.
That is NOT a net 20 gain across the board. Instead, it leaves 20 * 130 = 2600 football players whose D1 dreams get cut. It just moves the problem somewhere else.
Say goodbye to the Josey Jewells, JJ Watts, and Baker Mayfields of the world, since teams would no longer have the ability to take a flyer on guys. Furthermore, it does not "spread out" the talent, since it would do nothing to affect regional recruiting biases, the traditional strength of teams' recruiting or specific recruiters, or even just the recruits' preferred schools.
All of this is a moot point though, because swimming and men's tennis were already on the way out at Iowa, and it had nothing to do with football being "bloated", but rather the fact that those sports cannot support their own weight.