The rug being pulled is the expectation of a reasonably high-trust ethical environment. The question to be asked is: What will graduate study look like in an utterly zero trust ethical environment?
Disclosure: PhD, early 1990s. In my case, replicating my project would have required a sizable investment in equipment, much of it was purpose-built, among other things.
Interestingly we're a few months away from a data point on what happens to grad school applications.
In math, proofs are "the coin of the realm," and could be devalued to zero. This leaves no answer as to how someone will earn a graduate degree. For instance, what kind of work will be accepted by a thesis committee in five years? The professoriat can only say "we will need to change some things." That's not good enough when the deadline for grad school applications is a few months away.