There is a key subtitle: "Early tally shows sharp enrollment declines at community colleges and among men".
This isn't about the rich/elite/high end schools seeing enrollment dip. It's about seeing the poor and middle class get pushed further back. And the dip among men is particularly worrisome, since it will set them further back in education, leading to further radicalization in this group.
We should not be celebrating this as the "death of academia" - what this is, truly is, the death of the middle class.