I didn't follow every detail of the sordiness, but I could see easily a three year bowl ban, not that it would matter really coupled with allowing juniors and seniors to leave and cutting scholarships to some number, say 20 a year instead of whatever, for four years. I'd also take away every championship they won by cheating. Oops.
The penalty is not about Ole Miss, it's about how others perceive the downside of nefariousness.
That message is not being sent other than to say you can cheat and expect to skate even if caught for the most part.