[aardvarks]

It's true that professors rely on grad students/postdocs to do work. And, at least in my experience, advisors are actually pretty good about giving students credit for their work -- having successful students reflects well on the advisor. But a student is even more dependent on their advisor than vice versa. It's not like undergrad where the main thing that matters to your future employment is to collect the diploma, because for most fields the main reason to get a PhD is to continue in academia, and academia right now is an extreme employer's market. The things you need to leave grad school with are 1) impressive recommendation letters, like "best student in N years, reminiscent of <mid-career hotshot> at that age", and 2) (lots of) refereed publications. If you manage that, the diploma should be automatic.

Yes, you can push back against advisors who require 12 hrs a day in lab. But if that means you take longer to produce work, your letters might be just good instead of positively glowing, which might mean you fail to launch in academia. Several hundred other people will apply for each tenure track job you apply to; those with "just good" letters tend to get crowded out. The tenured advisor might have a bruised ego because their publication rate has slowed, or be more frazzled because they have to save money and write more proposals, but at least they still have a job.

Also, PIs themselves generally work a lot as well (often the ones insisting on lots of hours from their students think, rightly or wrongly but based on their own experience, that that's the only way to succeed....). I agree academia is broken, but think it's at a deep structural level, and more complicated than schools exploiting students and hanging them out to dry.

[adminprof]

I think your comment is pretty spot on. Just three things I'd add to, are that 1) the advisor is not intentionally downgrading your letter to "just good", but it's that they're obligated to write a better than "just good" letter for someone who has been more productive both in terms of research and in being a leader in the community (these two things go hand in hand). Writing the same letter for two students regardless of what they accomplish would be unfair.

And 2) sometimes getting more funding is simply not possible, as in the advisor has basically reached the limit of what they can do. There's a limit to the number of proposals that one can submit and the number of calls that fit their research agenda. So what I think you're missing is that if an advisor has less funding, there's going to be more pressure to finish sooner and less freedom to explore ideas beyond what's written in a previous grant proposal.

3) I've never heard of a tenured professor that concerned about their publication rate. In fact, most of them don't even update their CVs or websites with the last few years of papers. It's always the student who is trying to get more papers.