I think the penalties are too harsh too. The people who committed the crimes will suffer the consequences. They will serve time in jail, they will be relieved of many of their assets and their reputations have been ruined for life. Those are the people that should be punished, and they will be. The school should also be punished. A loss of scholarships and a two year post season ban plus some smaller monetary amount is also warranted. The school will also be paying a lot of legal settlements, and that too is justified.
No program should ever be given the death penalty again. It's not fair to the players, the students, the alumni and the entire community. Thousands of jobs would be lost by innocent people that rely on football season to survive, there's no justification for that. A four year bowl banning is almost akin to a death penalty, it certainly is a program killing punishment. Don't think you improve this world by destroying part of it.
As for vacating victories, that's just bureaucrats being bureaucrats, a waste of DNA