What "stupid decisions" are you identifying with the last 50 years? I can't think of a unifying theme in that timespan.
Whether or not the thing we call "universities" continues to exist into the indefinite future is not of particular concern to me.
The primary thing I'm concerning myself with in this conversation is the recurrent and myopic belief among the HN commentariat that everything, especially anything that isn't STEM, needs to fit into the bottom line of some profit structure to be worth any of society's time and effort.