The one and done isn't going anywhere. I'm thinking the new changes will be some of the elite recruits skip college, and some elite recruits still attend college.
I mentioned this on TheBrotherhood forum, but I think college basketball's biggest problem is guys leaving (in increasing numbers each year) that are 2nd rounders or undrafted guys. College basketball needs to figure out a way to keep the Trevon Duvals, Gary Trent's, and Cassius Stanleys around for more than 1 year. They do that, and I believe the product will start to improve.
Personally I believe the super elite One-and-Done guys like Bagley or Zion have been saving college basketball the past 5 or so years. College basketball needs to welcome these guys still, even if it's only for 1 year. But again, they really need to focus on keeping non-first rounders around for more than 1 year, it was always like that until this decade.