While I get would agree that some of the points you make are worth discussing, I think it paints a worst case scenario. The big reason for transfers (other than legitimate personal ones) is to enhance one's chances at a pro career. The huge hunk (75%) of college players either have no interest in a pro career or realize they aren't going to have one by the time they got through their 2nd full season, therefore have little motivation to transfer beyond personal ones. There are truly few positions outside of qb, where a kid can get stuck behind a better player, coach favorite or get recruited behind that dooms them to a 'permanent' seat on the bench.
The notion that coaches (and it goes beyond Head coaches since most players spend far more time with their position coach than they head coach) can change at will while a kid is 'owned' by a school because of a document they kid signed when he was 18 during a process that is frequently pollute with lies and deception is bullshit.
At a minimum, the reasons for transfer without penalty out to be expanded beyond the narrow range used now to include coaching changes, both at ahead coach level as well as position coach. And they certainly shouldn't be the silly one-sided limitations that schools can now put on a kid.