Another thought: it would be interesting to know if it's a fundamental problem (full tenure track for every researcher/teacher needed cannot be financed at all

Another thought: it would be interesting to know if it's a fundamental problem (full tenure track for every researcher/teacher needed cannot be financed at all in the current system), or if the number would work out if the funding for all the administrative bloat was shifted to teaching/research. I suspect the fundamental truth of PhD production far exceeding job market in the academia won't go away though.