...That's all BCCI could do. On the other hand, so many good players joining ICL means, in very near future, ICL may come-up with a team better than BCCI's 11-players and then want to send the ICL-11 as the "national squad". What would BCCI do then?
Considering the manner in which BCCI works (i.e. only working for Maharashtra and Karnataka, and complete neglect for the rest of the country, particularly the eastern-part), what ICL is doing is very appropriate.
ICL would look after the players much better than BCCI - and BCCI would loose all its glory, and it's administrators will loose all their money. Serves them right !!