This is exactly it. A modern university has needs that are far greater and demanding than one of 50+ years ago. And generally, the people doing the ground-level

This is exactly it. A modern university has needs that are far greater and demanding than one of 50+ years ago. And generally, the people doing the ground-level work are underpaid and overworked. If anything, there may be a glut of VP and C-level positions, but they don’t make up the bulk of employees.