I briefly attended a CSU in the 90's and this was well discussed even back then with predicted population declines. There's just too many CSUs. You'll always need the ones like Stanislaus and Bakersfield to serve their communities and it turns out, they're the ones doing ok. However, there's too many in LA and SF, and the situation is not helped by housing costs in those cities. SFSU itself has had -30% enrollment in the past 10 years.

The CSU system is going to have to to make tough consolidation decisions soon because you can't have declining urban and suburban campuses at the same time.

Maybe they can open a campus in Texas where all their residents are moving to.