We pay our interns the same rate as an entry level SWE, $185k, but divided up weekly for the intern period. There’s nothing wrong with internships at all.

You may mean unpaid internships specifically? I got my start when I otherwise wouldn’t have had an entry to my industry with an unpaid internship, but also recognize that it’s a privilege to be able to not be paid for months at a time early career. I would personally never not pay an intern, but think there is probably a place for unpaid interns.

Newbies know nothing. I don't see how any company actually benefits from having interns or apprentices other than that it is a good thing to do for the community. You are getting a dime on the dollar for an intern. Even a intern working unpaid is a loss.

Paying an intern less than minimum wage may be legal if it really is for the intern's academic benefit. Here are the factors that are considered to decide that [1].

[1] https://www.dol.gov/agencies/whd/fact-sheets/71-flsa-interns...