[cucuuc]

A PhD is literally )as in that’s what the abbreviation stands for ) a license to teach. It’s origins are exactly in training people to pass the torch of knowledge.

Look at the Greats, or even professors until the 50s, they only had at most 6 grad students their entire career.

Many modern professors have as many students a year.

[krastanov]

Plenty has changed since the word was created. Similarly, philosophy used to mean all of science which is certainly not the case today.

In other words, PhD does not mean "a license to teach" and it has not for at least a century.

I am not saying all these changes are for the good, but the premise in your comment is not true.

[dredmorbius]

Sources for any of this?