@hawkeye10,
I dont disagree that we need to mercilessly cull out nonperformance but, as you may know, Colleges are also a business. If a marginal student of means can do the minimum work for a liberal arts degree, why not let them pursue it. Im against much of the funding without recourse.
Most all science and engineering fellowships and assistantships are noit without performance expectations. Whe I was in grad school for chemistry, we started out with about 40 people in my MS class and we were left with about half at the end of the second semester > At the school, the University required a minimum of a B a C would mean loss of funding until restored to a B. Yet the student could graduate with a C, just without further funding.
Chemists were being snapped up by all sorts of companies besides DUpont and 3M.
In geology, where I did my terminal degrees , There were oil companies snapping up our classmates before they finished their MS's . We were offered promises of a PhD if we worked the "rigs" for 4 years. I was never interested in the oil patch as a long term commitment so I wnet back to grad school in mining and environmental applied. Applied sciences and engineering will always be in demand. THeoretical sciences are also needed to develop the questions and this must be done at relative leisure, with support from an understanding industry or university. Ive got a buddy who studies ticks at an Ivy Legue med school. Hes faculty of an area that is just as unique as can be. The work needs doing cause Lyme disease is an ecological. as well as a medical, problem. Was his Phd a waste in your mind?
I can name a bunch of folks and Im sure you can also.
The difference between a merciful and economic "Cull " of nonperformers is very different from a blanket indictment of a graduate system that trains MOST of the worlds scientists and engineers(not to mention writers , artists, musicians, agronomists, economists and physicians)