The role of universities is expanding. Should universities play a role in the local communities? Should they do research? Should they perform outreach to improve diversity? Should they accommodate all facets of student life? Should they have sports? Should they teach courses to non-students? Should they fundraise? Should they support extracurriculars and provide leadership opportunities? Should they offer financial aid? Should they manage real estate and parking? Should they resolve disputes among faculty and students and departments? Should they invest their endowment? Should they support alumni? Basically, each of these needs a team of people to manage.
When they remove all the full-time faculty by replacing everyone who leaves with underpaid and overworked adjuncts, they fail at that mission. Nobody is going to care about any of the other things if they can't actually learn anything there.