We need to look at this in the greater context of the higher education balloon bust. First a few axioms:
1) By offering to educate everyone, while some are still getting a useful education, everyone else, the overwhelming majority, are being impoverished for decades after having missed out on four or more of their most productive working years.
2) Schools have for years been strongly moving away from education, into research, athletics, and anything else that will make them a profit, including kickbacks from student loans and “dead peasant insurance” on their students. Most of that nonsense will have to end, and student bodies will shrink in size from 2/3rds to 3/4ths.
3) State subsidies to higher education are throwing money down rat holes. With a major economic downturn, the money pump will be cut off. Tuition prices will collapse.
Okay, now this being said, stripping professors of tenure will be needed to speed up firing them, a big help when you are downsizing like there is no tomorrow.
You’re right.
It’s become a rat hole, a very EXPENSIVE one.
A real money pit.