re: The NCAA is suing barstool

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Parody is a legitimate use under the trademark law. That's exactly what this is....

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Not always. I would also question whether this even fits as the legal definition of parody since it makes no criticism of the NCAA tournament and its a joke that could have been made without replicating the NCAA logo so closely.

"the purpose of a parody is to comment on or criticize the work that is the subject of the parody. By definition, a parody is a comedic commentary about a work, that requires an imitation of the work."

In the end the NCAA will accept Barstools apologies and settle for some minor meaningless amount or the NCAA may even drop it, but they'll be able to say they made the attempt at defending the trademark as required by law.