The larger point I think is lost on most people, especially the Universities.
They have spent the last few decades purging conservatives from their ranks to the point only a few tokens are left at most places and some have none at all (esp in Liberal Arts majors). That's very different than having a liberal bent that allows for free speech. Now the issue is they are screaming about getting their money cut but the only people who care are liberals because conservatives and even most normies don't feel sorry for them. They decided to make themselves institutions that only cater to a minority of the public and are despised by a large portion of the public while the rest don't really care.
The real problem internally for these school as well is they got away from education. They spent the money they got during the free for all boom of Guaranteed Student Loans that allowed them to raise prices through the roof not on more profs but instead on growing administration and allowing DEI to explode. Most of these schools have far more administrators and people that do things that have nothing to do with actual education than they do professors and that's a phenomenon of the last couple of decades. The salaries some of those Admins make is crazy as well. They even gave themselves huge targets where some of these schools were dropping 8 figures on DEI organizations with multiple layers of bureaucracy. They didn't want to reform, they only wanted to grow.
Thus the costs continue to rise while the value prop of college declined. You end up with this increasingly expensive product that is less and less valuable outside of a limited number of specialties. You have millions of people with massive debt from getting useless degrees that have put them in a hole financially some will never escape because the schools didn't prepare those kids for the real world. Many of those kids are now 20 (or even 30) somethings with a big note they can only afford the minimums on to pay back because they don't have good jobs. They also didn't learn financial discipline so they compound that problem with other debt because they are trying to live a lifestyle they thought a college degree would give them but it simply doesn't because they didn't choose the majors that would actually be worthwhile because it wasn't made clear to them they needed to do the hard thing to build value and not just take fun classes and party.
I just went through the process again with my youngest and read so many books and listened to countless podcasts trying to help my son get the best results (which paid off huge but that's another story). Listening to these Admissions folks though (both Counselors and current Admissions folks) it was fascinating their lack of cognitive dissonance. Most are very well intended and truly think they are doing the right thing, I believe most do try. The problem is they all are from the exact same background with the same values. 90 percent plus are Liberal Arts Majors (mostly women and gay men with a smattering of older male leaders that are diehard liberals). They all talk to each other and then assume that everyone agrees with them on their priorities of diversity and social justice. Then when they have a question about major or what to do for students they are all about "exploring" and "What color is your parachute?" pie in the sky idiocy. God forbid you say you want to study something because you think it would be a good profession to make a living at, you have to instead say you want to study Computer Science so you can cure homelessness somehow or you want to be a Chemical Engineer to solve Climate Change. They love the kid who plays an instrument or some obscure activity and dismiss the kid that was a varsity football player. They have a pathetic understanding of Engineering for the most part and even less of what employers want because to them they were able to major in some Liberal Arts field and ended up landing a job in Admissions and are doing just fine, especially the ones who now do consulting.
The rot is deep and the biggest problem is most of these schools don't even have someone who can tell them what they need to fix, they already purged anyone with a dissenting opinion. Thus many of these places will die and many others will be in for a huge readjustment after living fat on reputations built by their predecessors.
"The most terrifying words in the English language are: I'm from the government and I'm here to help."
Ronald Reagan