I put it down to a number of factors: -The replication crisis -Divergence of "Social Justice Leftism" (for want of better words) over main stream liberal and conservative ideals at universities. -over production of degree holders, creating a shortage of trades people and graduates who can't get jobs. You have many graduates who prefer to work in unskilled jobs rather than retraining into trades. -Increased expense of university. On average most attending university are better off. But there are a lot of people worse off. -Disappointing returns on research at universities. Commercial and Industry specific labs have a much greater return on investment, but the narrative has been about needing to invest in universities.
I'd like to see less places funded at universities. Less research funded at universities. More funding for research elsewhere. Pre registration of studies become the norm or mandatory (i.e. say before you do the work what you are looking to test in the data you collect). More prestige and funding for trade schools.