Well, nothing's going to change so long as instructors keep accepting those terms of employment, maybe undervaluing their own contributions.
Colleges are going to keep paying poorly because they can.
I realize educators tend to be very personally invested and committed to teaching, but at the same time, if a college is placing such low value on their labor then they should consider going where they'll be more valued, whether in private industry or media company or whatever.
Those talents are needed elsewhere, after all. Just look at the sorry state of reporting these days.
But the low paid positions are going to continue so long as people keep standing to accept them.