MIT's network policies are not purely about what makes financial sense. The Institute was one of the birthplaces of the internet, and they see the ongoing development of it as one of their core missions. MIT has a close relationship with W3C, which is located a stone's throw away. Their network is multi-homed to the max; I think they peer with ALL the backbone providers that operate in the US. The school has ludicrous amounts of internet bandwidth; I think it's now measured in terabits per second. After all, they have to be able to cope with thousands of students watching Netflix along with all the research!
And just in case there is a REAL internet collapse... they have an emergency info site at mit.NET that is hosted far away from the campus. That would let them get some information out even if Cambridge were wiped off the map and all the name servers for .edu were to fail.
Universities are uniquely positioned to not be constrained by market forces. Part of the reason that universities get privileged access to things, is because they are seen as working in the public interest. Government and business and wealthy donors throw money at universities, because they want to see innovation and public good come from it.
Maybe that's idealistic of me, and universities are just a kind of business, and only that. MIT already gives the public free hosting, with an externally routable, unfirewalled ip4 or ip6 address, to anyone who comes on campus. I don't think any other universities in the world do that. And MIT does this at great expense. (this is how Aaron Schwarz was able to download so much of JSTOR)
It makes no financial sense for MIT to be doing this. Perhaps they should lock down their network as much as possible, and probably outsource it's management.