The Ivy League has actually done quite a lot to make the game as it is played safer. They are way out ahead of the NCAA in limiting the number of full contact practices, their season is much shorter than in “regular” Division 1 football, they have stricter penalties for helmet to helmet contact, etc. Back in the early 1980s, the Ivys opted out of big time football and have since tried to chart a middle course. They want to play serious, competitive football while trying to keep the players as close to the regular student body as possible. While this decision has cost the Ivy League in terms of attendance at games and in playing high profile games against national powers, the graduation success rate (the NCAA measurement of athletes’ matriculation) is somewhere in the high 90s, while the overall rate for football hovers around 80%. As far as whether football players are “true academic elites”, something more than a third of all rostered football players need to have stats at or above the median stats for the class admitted in the prior year. Another third need to have stats that are no more than one half of one standard deviation from the median stats in the prior year. Of the remaining third, which is ten per year for a total of forty kids, only two per year or eight total can have academic stats as much as two full standard deviations below the median. It’s not like they are just admitting anybody. When you consider that all of these kids are generally coming in as multi year varsity starters and all state or all region type players, and that the kids who are coming in at the very bottom of the academic index are truly among the best at their sport, I would venture to guess that the overall profile of the football team is not very far off from most of the kids on campus.
As far as giving up football overall, I would only say that even with the reduced attendance numbers you see at Ivy games today compared to thirty or more years ago, the games still bring far more people to campus than any other sporting event, and the more people who come to campus, the more opportunities there are to fund raise .