The common argument is that universities offer vastly more services to their students then in the past. Career centers, for example, are relatively new trend. This is in part because students also 'shop' for universities with the best perks - not necessarily the best faculty. The most egregious examples include Michelin star chefs, lazy Rivers, and very fancy scoreboards in their very fancy stadiums. Less egregious examples include better campus security and health support staff. As much as it's convenient to point to administrators as a problem, part of the problem is also the ongoing arms race to attract applicants and students' expectations.