Shitty compared to whom? Who are the examplars of information security universities aren't matching? Academia security doesn't look so bad compared to governmental or corporate security.
Security involves trade-offs and some of universities' lower security is a conscious choice to not impair academic freedom or collaboration.
> apparently doesn't hire any.
If their graduates are as good as claimed, the University can't afford them. And many wouldn't want to work there because most of the University's problems are not interesting.