Moving to a pure merit-based system would be a great idea IF universities were primarily designed to educate people. They are not—anyone with half a brain can get a world-class education from ChatGPT, Wikipedia, Khan Academy, and library books. Paying a university "for the education" is like paying $100,000 for tap water because it’s served in a fancy glass with a Latin motto printed on it.

Universities are cartels of prestige and access.