Yes. Gone are the days that you would hire a teacher to teach you something. These days you turn to automated teaching services. The fact that the word teacher is now synonymous with the K-12 school teacher further emphasizes that the career in general has effectively disappeared. As before, "teaching" has survived as a career where childcare is the actual service offered.
> How little do you pay babysitters?
In my case it is $3 per hour for a daycare provider that cares for no more than five children at a time. If the babysitter cared for more children I would expect to pay less as I would get much less value for my dollar. The quality of care and attention declines as the number of children increases.
Large class sizes are accepted because we are going for bang for our buck over quality of care. If teachers were charging on the same order per child as other daycare providers providing higher quality care, indeed it would be good money, but there would be a shift to putting children into those better care facilities and so it wouldn't last. Why pay the same amount for lesser care?