My favorite academics in the automotive field were the ones who had already been in the the industry for long enough to make their bag and had come back to teach because it was fun.
The head of the automotive program at my alma-mater was very well off and was completely open about the fact that he did consulting on the side if he wanted cash for a new truck or something. This also made him considerably more immune to administratorial university politics.
A lot of university bloat and wasted resources came from the fact that the various regents, deans and heads of so-and-so wanted their fingers in every pie and would push various "initiatives" that academic staff were expected to support (which would then be a notch on the belt of the administrator who created it, giving them power to hire more staff and create more initiatives).
There were a lot of levers that could be used against academic staff who focused too hard on teaching or supporting grad students. Loss of lab space, no grad students funneled to them, etc. The people who'd already "retired" once and were only there to teach were basically the only line of defense against this type of stuff, because they simply didn't care.