[nine_k]

This is fair, and this may be a question of branding.

Let's call it not English major, a mostly literary scholar, but a master of natural language communication and epistemology. Definitely it's a set of skills useful in a wide variety of positions.

It takes an exceptionally affluent society to let everyone pursue their interest as their full-time occupation. I expect the few of exceptional ability to make a living off literary research pursuits, via grants and book sales, with others who love it doing it as a hobby, or after retirement. This is roughly how it worked for many centuries in the past, and the results are impressive.