I think he raises an extremely valid point, in that students pay a fee to ensure that the OU football team can compete at the FBS level, and that based on the level of interest the student body shows in the football team, you can make a very valid argument that they simply don't care what level the team competes at.
In fact, if given the option to save $800 dollars a year even if it meant the football team dropped down to FCS level, I'd venture to guess that the vast majority of OU students would opt for the $800 dollars in savings. Look around. The student loan industry is breaking, and universities are going to have to figure out ways to provide educations to students in a more cost efficient way. Throwing in additional fees to fund a poorly supported, financially insolvent football program seems a bit frivolous to me.