The way I see this playing out. I've told everyone from the start that this story was sensationalized during the season because it involved a huge school, huge controversial name (harbaugh), and Michigan was one of the top teams at the time. They took a story about minor NCAA violations and blew it up for clicks; and buckeye/spartan fans ate it up. Some people got caught up in that sensationalized story to think that 1. It was the reason Michigan was good and 2. The NCAA was going to hammer them because they viewed these as major violations.
What's happening now. Leaks are coming out that illustrate the actual allegations weren't as serious as the sensationalized stories for clicks made them out to be and people like Pete Thamel are backing away from any talk of serious punishment. The story is shifting to violations that involve disobedience with the NCAA and not anything to do with the sensationalized sign stealing scheme so many people (including posters on here) got caught up in believing.
What happens next is that Michigan, as rational fans predicted, will likely get a slap on the wrist. Maybe a fine. Maybe some scholarship losses. Former coaches who they deemed disobedient get a show cause from the NCAA. And predictably, the next conversation shift will be "of course the NCAA looked the other way for Michigan". "of course they got off easy". "The NCAA has no teeth". You can start to see that shift already happening in the last few pages here.