Instead of adding complexity, why not remove complexity? Instead of creating new tax rules, why not remove 501c nonprofit status from all univesities or maybe

Instead of adding complexity, why not remove complexity? Instead of creating new tax rules, why not remove 501c nonprofit status from all univesities or maybe from those with significant endownment or balance sheet? Thats where the value really is. The land is just a subset of the overall assets. Or if you want to be ambitious, just get rid of 501c for universities, period?