Earlier quoted context omitted.
Professors aren't the ones dealing with undergraduates, it's the administration. The administration is answering to the MIT Corporation and the Board of Directors, whose interest has long become to grow the "investment vehicle" (endowment, professorial industry nexus, bureaucracy, etc.) through commercial and real-estate ventures, patents, and the cultivation of the brand. Students, graduate or undergraduate, and the…
You must have had a different interaction with the MIT Corp: I've found that they have nothing other than the best interests of MIT at heart. Most of the members are alums, and several of them have made very significant donations (with not a whole lot of recognition imo.) I'm not saying the MIT Corp hasn't made mistakes, but I've never questioned their motives for doing the right thing.
How MIT's immediate neighborhood has developed into an unlivable office park is a vivid example of what I say.