Exactly. Computing Ph Ds are not very attractive to commercially oriented U.S. citizens, because the content can be learned in situ, in books, online, through p

Exactly. Computing Ph Ds are not very attractive to commercially oriented U.S. citizens, because the content can be learned in situ, in books, online, through practice projects, with friends, &c. But computing Ph Ds are great for 1) the small portion of people who want to become academics in the field, and 2) non-citizens looking for a path to transition into the U.S. economy. Unfortunately, this is probably another instance where hidebound immigration policy is creating a bubble (in higher ed) while preventing human capital from attaining its highest and best use (in the private economy (at least for four years)).