I don't think this is an NCAA issue, this is a Baylor and state of Texas issue, they need to be the ones to step in and clean things up, and get rid of any remaining bad people in the program to start changing the culture.
Looking at the criteria of the NCAA death penalty, it appears that their bylaws state that a "death penalty" (really just a 1 or 2 year ban) can ONLY be handed out if the school already on probation for the violation is found guilty of a serious violation during that probation.
And in it's history the NCAA has only handed out 3 death penalties:
1. To Kentucky basketball in 1952 because they were found guilty of point shaving.
2. Southwestern Louisiana basketball 1973, in this the team (coaches and boosters) were giving players money, letting players borrow cars and the most serious was the assistant coaches were creating academic fraud, they were changing recruits' high school transcripts to make them eligible and then forging signatures of the principals from those recruits' high schools.
3. SMU Football 1986. They were flat out paying players massive sums and giving recruits things like houses and cars. When they were first caught they were put on probation and were going to stop, but they were so scared that the sheer magnitude of it would come out that they kept paying the players already in their program to try and make sure no one went public. There's a 30 For 30 on it called The Pony Excess, it's incredible, I highly recommend it.
So the three cases are completely different from this. As disgusting as the Baylor program is, it needs to be cleaned up (or shut down) by the institution or state, not from the NCAA. And Art Briles, the AD who was in charge and Ken Starr should never be put in positions of trust again.
"I never lose, I either win or I learn."