Although I agree that physical labs are essential, I also think it's dangerous to assume that the decision making process in tertiary educational institutions i

Although I agree that physical labs are essential, I also think it's dangerous to assume that the decision making process in tertiary educational institutions is driven very strongly by a desire to minimize costs. When you're selling a scarce Veblen good, creating and maintaining a luxurious and sophisticated image far outweighs efficiency in terms of overall success.