What the ruling actually said was that the college could not eliminate the women's volleyball team and replace it with a cheerleading squad to comply with Title 9.
Sounds like the school was already playing pretty fast and loose with Title 9 - dropping male players from the rosters and adding females for reporting purposes, then changing it after it was submitted to the Dept. of Education.
I think cheerleading is a physically demanding sport, but I don't think it should count for Title 9 at the expense of more established sports focused on head to head competition.