I have a dim view of research in the humanities. I have a strong view of teaching in the humanities.
In my mind, much of engineering, computer science, math, and non-lab science can be efficiently taught online. Probably a lot of business school coursework too. For at least the intro and intermediate courses, it's about having a body of material that can be mastered. Discussion isn't as important if you can learn the material on your own.
Comparative literature, history, philosophy and similar subjects are very important, and are more likely to require live in-person teachers. Discussions are important. Subjective grading and coaching of individual papers is important. Multiple choice exams are less likely to work.
I'm also a strong believer that humanities degrees complement professional degrees. An accounting major can do my taxes. An accounting and English major can break arcane financial reports into plain English for investors. A math major is ince. A math major who studies French literature may also be able to read French proofs in their original language.
What I question is the relative value of the teacher's research. What's the right break-up of teaching to research time for humanities? Is it the same as the sciences? Is the current ratio correct?
I believe that the current ratio is not correct. One needs only to look at how expensive small liberal arts colleges are. If their teachers spent more time in the classroom and less doing arcane research, the costs would come down. Perhaps if you're a top 10 school it's ok, but not as a lower tier school.
I have a right to complain as a parent, as well as a taxpayer whose government is subsidizing student loans and paying for schools.
Now disillusioned Phds is another problem... Systemically everyone is incented to produce more Phds than required. It's definitely a situation of letting the buyer beware early on.