Or should we only allow those with plenty of capital to pursue academia?
There's no philosophy industry.
Philosophy grads are eating. I'm about to eat breakfast. Let's not exaggerate the situation. The issue here isn't that grad students are starving or homeless.
It's a question of personal values and what one wants out of life. Many people of a philosophical predilection would find it unfulfilling, a waste, "insane", to devote themselves to wealth maximization.
Arguably, If your goal in life is to be happy, from a philosophical perspective, maximizing wealth is a valid way to do it.
No, but wealth can free your time to do what you wish. It can enable you to do things that are harder to do without said wealth.
You can work in the diversity industry. As a chief diversity officer, for example.