For individual workers this is fine, and people should do what they like; at scale, for society, it is incredibly wasteful: high-quality teaching has incredibly high leverage. We should get our collective shit together and fix it.
Cities have never replaced themselves, by the way - urban population has always come from people leaving the countryside. When the inflow shrinks, the city will shrink even if no one leaves.
If people are leaving academic professions to work as stockers at retail stores, this does not bode well for American society long-term. You can't have an advanced economy and society without an academic class.
Our universities are still trying to teach like it’s the mid 20th Century, but the economics are not in their favor. What we’re seeing is the result of them being squeezed into the new reality.
This is not a claim supported by the literature. (Though it is a very popular one.) The results of teaching are overwhelmingly determined by the student getting taught. Variation in the teaching itself has a minor effect.
When you look at populations, it averages out, but there are definitely 10x teachers out there. It’s more of a function of teacher+student combination. The problem is actually more about the structure of schools that limits what great teachers can do.
I’m sure there are studies out there - I’m also extremely skeptical that studies can adequately measure variation in teaching performance (I come from a background in sports / circus, where scientists are always 10-20 years behind the state of the art understanding of the actual practitioners)
(I think it’s kind of like with coding - anyone can write a CRUD app, and anyone can teach basic arithmetic. But certain teaching tasks require very skilled teachers to work)
But this is a weak way to study the most important influences teachers can have which are about inspiring and exciting students and might not be particularly observable until years or even decades later, when e.g. a student with an inspirational middle school teacher chooses their college major or career path, which might be a different choice from the counterfactual student whose teachers were just phoning it in.
I don't have any emotional attachment to university teachers anymore than I have emotional attachment to buggy whip makers. Maybe a lot of the knowledge a university education provided can be obtained by moving to a major city and watching various Youtube documentaries for 4 years, augmented with debating people in Hacker News comments.
If your goal in life is to be happy, healthy, and fulfilled in purpose, hasn't universal university education been a recent phenomena, not required to fulfil one's life goals? Perhaps university life and its requisite bureaucracy is an aberration, not a requirement for human flourishing.