I think I'm close to an outside observer - I didn't go to Stanford and don't have a dog in that fight, as the saying goes. I don't trust the conclusions of this article.
It starts with a story about a frat which filled their building's first floor with sand, so much that they had to rent a bulldozer to relocate it to the campus lake. Then they call the Stanford admins killjoys for not supporting it. But... of course Stanford wouldn't support that! That would try anyone's patience.
What kind of impact does dumping all that sand have? What about running the bulldozer over the Stanford campus? What if someone is injured by the bulldozer? I wouldn't trust teenagers renting an after-party bulldozer who never cleared that with anyone, never notified anyone, and have no proof of training.
Then, the article talks about Stanford letting the lake "go dry." I live in California and I can tell you what happened: the drought. There's a killer drought, nonessential water use is discouraged, and a manmade lake in a little-used corner of a campus is the definition of nonessential. Stanford did the right thing by not artificially pumping it up. There's no malice involved; a lake like that, in 2022, is destined to dry up.
So based on those things, I don't think I can trust the article to be taking a balanced, sensible position. My "middle of the road" position wold be that, yes, sometimes adventurous college kids can get away with something - once in a while. But over the long term, it's the institution's job to prevent one-off events from turning into ongoing disaster generators.