Most schools try to standardize their classification level for each of their respective sports teams. Getting to 1-A in most types of sports, including basketball, even moderate size schools can find reachable. However, football, involving the most players and expense, is where the reach gets tricky and difficult for most with such aspirations. They are 1-A for most everything else, and take on 1-AA for football for labeling consistency. There are teams that are truly 1-AA deserving/appropriate: GA Southern, Montana, Delaware, UMass, etc. Then there are 1-AA conferences and teams that are basically Division II quality.
Comprehensive revision is in order.

The real problem is basketball. There are a lot of schools in Div. I to get a piece of the bb tourney. There are several conferences that don't belong in Div. I. That is the reason there is such a spread in I-AA. Most of the "Div. II" type schools were Div. II 15 or 20 years ago. Div. I needs to be trimmed by 30-50 schools.

I suspect there will be some effort to tighten Div. I standards by upping the cost as they have done for I-A. However, they may not have the votes, especially since Div II is likely to resist. Div II's ranks have been swollen by the decline in the NAIA.

I think they probably should look at a non-scholarship fb championship in Div. I. There are probably a fair number of schools giving scholarships now that would be interested. Of the 120 schools in I-AA, around 40 are non-scholarship and another 20 or so are limited scholarship. These schools can't play in lower divisions as that was prohibited in the early 90s. Div II and III didn't want to have to compete with schools getting their facilities funded by Div I bb.