For a running forum, I'm surprised how many people are butt-hurt by a surprisingly talented kid getting a contract for the professional team that his father coaches.
1. Taking a payday and going pro when you have the ability to do so isn't as naive as many are making it sound. I was on a college team a few years ago with multiple sub4 guys, including what you could describe as "mega-talents" and some of them went pro, some of them blewup and never got a contract. There shouldn't be a penalty for knowing exactly what you want to do and how to do it.
2. The NCAA is not the best system for improving middle-long distance running, despite all the arguments about needing to be a good student or whatever. I remember an interview with Jakob Ingerbritsen or maybe his dad where they were talking about the huge amount of negatives associated with middle and long distance racing in the NCAA. Too many meets prevent the type of sustainable athletic development required of middle and long distance races.
3. Nobody has made the economic argument that attending college on such a high scholarship is worth $XX,000 per year and being a professional runner is $YY,000 per year. I think in the wash, the collegiate route probably makes more financial sense but I didn't dig into contractual details.
4. All the people whining about nepotism need to stop arguing in the abstract and come back to reality. Yes, nepotism exists. Yes, there are extreme cases of nepotism that are mind-boggling. No, it isn't responsible for as much as you think. Every system is a game, the political aspect is part of the game. If you ignore that, you won't have as many chances to succeed.