Not doubting you but it certainly feels like the Ohio States, Michigans, Bamas, A&Ms, Texas Tech, and many more are buying big time rosters in both football and basketball and massively outspending us in total combined roster NIL...
Yes they absolutely are, but it's not coming from the Athletic Department budget. It's coming from third boosters, directly to players. And those boosters are also donating money for other costs too, like what the Gies donation is going towards. It's not like OSU is not paying AD staff and is letting their infrastructure crumble just to pay players.
Think of it like this. There's two buckets of money. One is the Athletic Department budget. The other is the all the money boosters and donors are willing to spend.
The AD bucket, up until now, could not go to paying players at all. Now it's capped at $20 million combined for ALL sports. And that's what we call revenue sharing. The rest has to go to capital improvments and repairs, bills, staff salaries, scholarships, travel budgets, etc.
A portion of the donor/booster bucket includes donations directly to the Athletic Department. Once those funds go to the Athletic Department, they become part of that bucket and all the same restrictions apply. The other portion of this bucket is NIL funds. Until revenue share this was the only source of player compensation. Even after revenue share it is a significant source of player compensation. This money goes directly from the donors/boosters and other third parties directly to the players. While many (all?) programs have helped facilitate and direct these NIL funds, programs are not able to actually write the checks or distribute the funds, and certainly can't do so out of the AD bucket. The stuff that programs have been doing have been a bit of a grey area as it is. It's not entirely clear where the line is as far as how much a program can do to connect players with NIL funding. But the funds not coming from the program directly is a clear bright line rule.
So the Gies donation is now all money that's in the AD bucket. Even if Gies now changed his mind and said "I want that money to be used to fund the most expensive football roster in the country" he can't actually do that. But it does help because those stadium improvements also need to happen, and this means that other boosters can keep their money in the NIL friendly bucket rather than donate to the AD bucket to be used for necessary capital improvements.
That those other programs spend more doesn't make this untrue. They just more money in their buckets. Those programs you listed all bring in more revenue (AD bucket) and bring in more booster support. That means they have more left over for NIL while still doing all the other things and Athletic Department has to do.