Academic Science in the U.S. was pretty ill and needed a lot of reforms. We can all admit that.
But this solution is absolutely not the way to go about doing that.
From my psuedo-outsider [0] perspective, the capable and good people are fleeing or being forced out, but the jerks and asshats that were ruining it all are staying. If you thought in the late 2010s that we were boiling low tide in the ivory tower, then today we're just concentrating raw sewage. The abuse cases are exploding among grad students, anecdotally.
[0] I have a lot of friends and family in academia