Here is another factor that maybe the opening post's skeptics of American colleges and universities were thinking of when they expressed disapproval.
Diversity chiefs drowning in dough
Nobody in academia dares disapprove a ridiculous salary for a "diversity" VP or dean or provost, because that would be "racist."
Here's an idea. how about admit the best students you can, and stop worrying about how many of them are African-American, hispanic, female, etc. Just get the best students.
I'd rather spend that $349,000 on scholarships for UVa's first-generation college attendees tuition than paying an over-priced "diversity" VP. You could probably fully fund eleven in-state students per year for that money.