https://www.jamesgmartin.center/2020/01/the-intellectual-and...
But lots of other things have also changed that may or may not be causes:
- many fewer tenure track positions
- many more jobs in industry that require or value a 4 year or advanced degree
- obtaining a college degree as a right of passage seen as increasingly essential to you g adulthood
- the rise of data science: more jobs in industry that have access to lots of data and demand scientific rigor
- the rise of private cloud supercomputing (is deep mind) vs, say, a public university's cluster
- the obsession in some foreign countries of getting advanced degrees from American universities, creating essentially a guest visa workforce that is easily abused
- rise of Big Tech which has money to throw at things like protein folding
That said, this is primarily a computational problem, so the advances here might not be applicable to basic research.