Prologue Question: why do some fans on this site insist on making every story that involves an SEC school an SEC-trashing event? They should really consider that question a bit, as it does not reflect well on those who do it.
Okay, now my real response to the topic at hand, and the comments thus far:
No. Not in my book.
Look, character matters. Even when you're 16 years old. Or 18. Or 21.
Wrong is wrong. There's not a high school senior football player on the planet who doesn't know that you're not supposed to get paid cash to play college ball. They know that because they know that the NFL is the ultimate goal for those with real talent, because that's where you do get paid.
They're not stupid, stereotypes notwithstanding. And they're not free of responsibility. We should stop treating them as if they were. As if they're still 8 or 9 years old.
Absolutely, throw the book at the coaches involved. And at their head coach and the program in general for a clear and egregious lack of institutional control. But don't absolve the player who happily took the money just because he's, what, less of a man? less of an adult? He should pay a price, as well, for doing something he clearly knew was wrong. Not as severe a penalty as the authority figures involved, but a significant price nonetheless.
If we stop holding children responsible for their actions, they never learn responsibility before adulthood. If we stop holding young adults responsible, they may never learn it at all.