Average tuition for a year at a US private college is $35k. Nobody should pay that. Offering $140k for 1 year of regular time with any one of the best minds in your field of choice would be a strictly better use of your resources (and probably theirs, if they'd otherwise teach).
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Merit is a proxy itself, for future productivity. Past productivity is a proxy for future productivity. I agree with most of what you say (esp occupational licensing) but proxies are structurally necessary imho
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Offline bootcamps are having serious problems sustaining themselves. Lambda School is doing okay, though, which I hope continues because I want industry experts to consider doing online/facetime type teaching to small classes. That seems like a sensible direction for higher ed
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