re: Will parity ever return to college football?

P5 and FCS are totally different business models. Them having a lack of parity is largely because only a few schools really throw money at their programs the way FBS teams do. They don't generate school revenue like an FBS schools, much less a P5 school which has a shared conference pot of money.

Then you get into lack of talent after the top kids are pilfered by FBS schools. There just isn't as many good players left and those that are left go to the handful of schools I mentioned. Honestly, reducing it to 65 in FBS will likely help FCS a good bit too.

Imagine in 200 kids were pushed down the line from the top 10 teams.

Also, imagine what FCS would look like if they made it 85 scholarships per? It would be even worse.

TL;DR - there isn't a ton of talent left over after FBS gets who they want and then there are only a few schools financially committed to being elite at that level. Neither of those things is the case in P5 football.