The NCAA transgressed their limits to the extreme. The fine and postseason ban would have been enough, but no, they had to strip away scholarships and vacate JoePa's wins. They were punishing the wrong people; the players were not in the least bit involved. And there is no evidence to show that Joe Paterno actively covered up Sandusky's crimes, so are they to take away his wins?
Yes, I do think that they got plenty of punishment for the child sex abuse thing that they had go on up there. I think that since the coach was fired that it was all that really needed to be done about it, and he went to jail a while.
The people directly involved were imprisoned, and the school's football program now has a stain that will never be washed away. No matter what punishment was doled out to the school, the school will never recover its reputation, and will always be associated with scandal. And that type of punishment is everlasting.
I think overall Penn State was punished severely for the child sex abuse scandal, in addition to the formal punishments the Penn State name was tarnished globally and that will haunt them for decades and decades to come, everyone now associates Penn State with that terrible scandal and that is punishment enough.
Paterno was wiped off of the map and deservingly so, the program was heavily punished and will for many years to come carry a mark on that thanks to that piece of human trash Sandusky. There's no punishments that can be dished out to the university that will undo the atrocities that happened there, but they were dealt with harshly enough to ensure nothing close to them ever happens again.
There is no punishment that can be meted out to Penn State that will be enough for the victims of child and sex abuse at the hands of the university's football coaching staff. Penn State's governing board should have been replaced, in addition to the president stepping down, and taxpayer funds should have been reallocated to other institutions. Nothing will get back the lives of the victims, but the punishments given to Penn State University weren't nearly enough.