Can't say this is a compelling argument. Being lower cost than other programs just tells me those programs are overpriced too. Also the whole nonprofit argument is baseless; did you know the NFL was structured as a nonprofit until 2015? Universities and nonprofits in general are well known to waste funds, especially on administrative positions and vanity projects.

Not to call this a vanity project, and obviously I am not privy to all of the financial information at CMU so I may be wrong and this program may just be quite expensive. The main problem I see with something like this is that

1: As with most Master's programs, it's probably just a cash grab by the university. Although since this is CMU I assume the placement will be very good, I'm also of the opinion that programs like these can, but not necessarily will, taint the overall reputation of the university by setting lower standards.

2: It's fine for a few universities to offer degrees in Product Management. But the thing is, the market (at least within tech) for this role isn't THAT large, especially when you consider that a lot of product managers start out as developers to begin with. If enough universities start also offering these programs, I assume the placement and utility of the program will suffer greatly. We don't need a glut of PMs the same way we had a glut of lawyers following the recession.