I'm a PhD student at a top CS research University, and I'm leaving with a master's degree. I agree that the bar for admission into the program is way too high. I only got into two Universities despite having multiple publications as well as experience working in government research labs.

The majority of my fellow students are international, mostly from China. I know hardly any other Americans in my program. At this point I see the system as more or less a way for international students to gain citizenship. I'm all for immigration, but I think it has gotten to the point where American students don't even want to go to graduate school at their own Universities, and the system imports foreign students who they know they can abuse for cheap labor. If grad student salaries were higher I'm sure we would see more Americans joining.

I decided to leave due to abuse by my initial advisor. So many of my fellow students have experienced abuse or neglect by their advisors. By neglect I mean that advisors won't even talk to them because the advisor has tenure and doesn't care. Many CS doctorate holders I've talked to have expressed that their degree was not worth it.