Scott Aaronson who has tenure in Texas describes the effect as this: > […] it would be the end of UT Austin and Texas A&M as leading research universities. More precisely, it would be the immediate end of our ability to recruit competitively, and the slightly slower end of our competitiveness period, as faculty with options moved elsewhere. This is so because of the economics of faculty hiring. Particularly in STEM f…
I don't think this is generally true. I can think of a few cases of tenured faculty who could earn 10x their salary in private consulting but in my opinion it's generally not true. I think a good comparison would be to look at the average salary of something like Microsoft Research employees who are PhDs versus the average salary of tenured faculty of Computer Sciences at a highly ranked school like UT Austin. I suspect it won't be substantially different (based on job offers I have seen).
Although I don't know what a vastly higher salary means here, I suspect that the largest entrants in private industry for quantum computing would not pay vastly higher salaries than Scott Aaronson's ~$270K for work in that field.