The school gained an advantage in two ways. First, Jopa got to leverage his squeaky clean, legendary educator crap for years. Secondly, there is a clear argument that many players most likely would not have gone there at least for a short period. I realize that they are similar, but they are distinct.
As for the NCAA, I applaud their action. First off, there was due process. PSU supplied the Freh report, accepting it as accurate. Given that confession, what further diligence would be required? Secondly, had the NCAA not acted quickly and decisively, they would be effectively neutered forever. This wasn't free shoes or hundred dollar handshakes. It was an institutionalized culture that allowed what happened, covered up by the head coach, AD, and President of the University. Most PSU grads I know have accepted their discipline. Granted, they don't live in PA.