> purpose of the university is ostensibly to provide an education
One of the purposes. They’re also centres for learning and research and repositories of knowledge.
If they were spending the money on those things, this might be an argument. But they're not spending it; they're hoarding it.
I disagree. I think teaching is the sole purpose of a university. Research is ancillary to that, and if an organization only did research but didn't teach I would not say they get to call themselves a university any more.