As long as hiring managers continue to give more weight to resumes with name brand colleges, these universities will never be threatened.
While I was attending college in the 2010s. They were always pushing “new buildings”, “new rock wall climbing”, “renovations to college housing”, “lazy river!”. Apparently funded through higher tuition and fees.
At some point, a college degree will no longer be required which will be the death knell.
Most people just want jobs. Many employers are finding out that people with or without college educations can perform at their tasks, think critically and do all the same functions at most jobs. Ergo, folks will choose not to go into student debt purgatory and just dive straight into the workplace.