Harvard is a business school and letting in more low IQ students to take easily taught courses is a much better business model than bringing in more high IQ students who will take hard to teach courses.
A low paid grievance studies adjutant professor can teach a large class of students who are willing to pay a high price for a poor product. A high IQ student will take more demanding courses which will required much higher paid full professors. Even worse, the attrition rate will be lower. Instead of having a high first year cull rate, more students will advance to the second year which will require more expensive teachers and reduce the revenue per professor.
It’s far better have just a few higher paid professors with a few students. This is expensive, but the economics are like a lottery. A lot of fools pay in and only a very few win, but when they win, they win big.
The ideal is to have a high ratio of students to teacher with the students paying high tuition while the teacher makes a low salary. This maximizes profitability.
At the graduate level, the competition for qualified professors for intellectually demanding courses is against a very high paying private sector. Hedge funds and other investments firms pay very high salaries to physics majors. The school has to match these salaries while the professor has only a handful of students.
Grievance studies professors are in much lower demand with a much higher supply and lower salaries. It’s much more profitable to have lots of humanities professors teaching lots of students.
If you truly have a good grasp of business, why stay at a university when you could be making millions in the private sector? There’s a reason why a lot of company founders drop out of school early. They quickly realize that their time is better spent making money with the knowledge they have, then spending time to acquire more knowledge that they may not need.
There is little to no risk of this happening in the humanities. No one is going to get rich teasing some new nugget of information out of the works of Shakespeare.
On the other hand selling prestige to status seeking idiots is much more profitable.