as long as the school or it's representatives are not directly or indirectly involved in the process.
Outside of a school hiring people to educate student athletes on NIL and providing resources to help them do their research, the school or representatives should have zero involvement with NIL.
So in being true to its essence, I don't think there would be anything wrong with rich ND alums putting together something separate and in addition to what BQ started, that would add to what each ND player (even walk-ons) gets each month.