Yep. But then we have our government funding these scam institutions while they sit on enormous endowments.
And then look at some of the people that were paid huge salaries to "teach" at these places. Yet another joke. Seriously, could you imagine sitting through a class with something like Elizabeth Warren teaching? Or Paul Krugman?
Totally agree with idiot celebrities being paid to "teach". It's nothing but payback. Like paying hundreds of thousands for a Clinton to speak for 15 minutes at a conference. That pay comes from donors, laundered through the university.
The endowments shed interest that is used to pay chaired professors. That's one way to attract the best researchers and teachers. Generally the endowment base is locked up and cannot be touched. The government funding is usually research grants like NSF grants for specific projects. Much of the research is silly feel good sociological research. But there is cancer research, space research, and other research in the hard sciences that's pretty real. It makes sense to have top academics getting grants to do the hard research. So yeah, let's screen the research and see what's actually going to benefit humanity and get rid of the stupid stuff.