College basketball transfer system is not a perfect system, and pretty much everyone affiliated with it is aware and trying to create something that better suits the current climate of collegiate athletics.
Change is almost definitely coming. The Division I Leadership Council, a group of athletic directors, mainly, wanted to make it easier on athletes who were looking to hop from one school to another.
This was a year ago, last January. But, as John Infante writes at the Bylaw Blog, the plans for altering these transfer rules were adjusted "significantly" three months later, in April.