"Critical theory" refers specifically to the brand of marxism promulgated by the likes of Marcuse, Gramsci and Adorno. As opposed to social-scientific or literary theories which aim to study things "as is," critical theory is done specifically with the goal of social change in mind. And yes, it has become the dominant paradigm in most departments.
"...it has become the dominant paradigm in most departments."
Interesting - being a Finance & Accounting type I've not kept current with how the English Depts. at various universities have evolved. Neither of my sons (recent college grads - 5 years or less) never mentioned any conversations that even approach what apparently goes on at Cornell. I'm not even sure Cornell can be used as a template for all universities, such generalizations don't usually hold true under closer examination.