In my opinion, every last individual who knew about the child molesting but failed to call the police ought to be criminally prosecuted as an accessory - part of a cover-up, with possible conspiracy charges thrown in - and face serious fines and jail time. This is a matter for law enforcement, and ought to be prosecuted vigorously.
The administrators who hired & managed such people ought to be gone - fired, with no golden parachute - and banned from all other academic positions. THIS is where the NCAA should be playing; go after the people involved, and see to it that they NEVER have a position at another NCAA institution again.
Fining the institution, removing more than a decade's worth of victories, imposing additional sanctions without following the usual procedures . . . that just seems a bit "off" to me. (Hmmm - when removing the victories, does that mean that the QB's who won those games now have to update their college ball stats to show nothing but losses?)