I agree with you. It is definitely what the PhD student signed up for. But like I said in a sibling reply I think if we are worried about having fewer grad students (not saying that we should be), then we may need to change the incentive structure surrounding the PhD programs to make it more worthwhile for people to invest the time and energy. Because how it is currently going it seems to me like fewer and fewer people are going to consider it worth the investment just for the credential alone.

re: incentives, my proposal was always to let schools pay their football and basketball players, but require that grad research assistants are paid the same.