AR182,
You bring up some interesting points.
Women's basketball actually reels ina higher revenue than collegiate baseball. And it really sucks for me as a Longhorn fan. Major league baseball has sapped the vast majority of talent from the collegiate ranks. In turn, collegiate baseball can barely get on TV outside of the CWS. Limited talent generally means a lower quality of product on the field. Errors, poor pitching and aluminum bats all add to the perspective of college baseball being a low grade quality product.
Conversely, Women's Basketball is beginning to get a lot of exposure nationally thanks to ESPN/Fox Sports. I don't know what their ratings are for the NCAA Womens tournament but I'd wager they are vastly superior to the College World Series.
In college athletics, TV $$$ speaks much louder than attendance numbers.