It would be nice if they could make "generic" leagues to take the place of the ones they don't have the licensing rights to.
I don't know that the NCAA ever happens, just because of the way the NCAA handles their player's rights. If they did manage to get the NCAA included, it would likely be the same as it was in NCAA football and basketball games, where players were just represented by vague likenesses, with numbers instead of names.
That said, if they could somehow make a system like Eastside Hockey Manager where teams are all generic and their logos and rosters are easily replaced (this would obviously be a bigger task with a console system, and 3D player models in the game) then it would be possible for people to create their own rosters, jerseys, and logos and import them into the game.
Based on our current and past levels of customization, I don't have a lot of faith we'll see something like that.