Britain's university system, built in large part after WW2, was one of most important elements in a state project to modernise the UK economy. From Thatcher onwards successive governments have tried out various kinds of market-mimicking governance and now the sector seems to be in full-blown crisis.
They will be as loudly and confidently wrong in future as they have been in the past: they have no incentive to change, and I am afraid their foolish fans will love them for it. Because the message is always, you're OK, the world is as it should be, and what you feel is true, is true.