The problem is: new PhDs are made in just few years, but then they need a job for a lifetime. So, after you've graduated those 5 or so students you're willing t

The problem is: new PhDs are made in just few years, but then they need a job for a lifetime. So, after you've graduated those 5 or so students you're willing to hire, are you gonna close your PhD program for the next 10 years? What about people that want to study out of the genuine interest in the field, but can't, because there are no universities taking students? What if one of them is a new Einstein, that would revolutionize the whole domain?