It's a factor, together with high tuition fees, demographic changes, changing attitudes about credentialism (the political tide turning against liberal elite institutions), the cheap 24/7 availability of excellent learning materials online might kill "college as we know it" (in the US). US college is much more than education, it's a lifestyle, with lavish amenities, extracurriculars, varsity sports, all sorts of counselling. It's a bit of an anomaly, most universities globally are much more bare-bone. If US students start value shopping, the US college landscape might start to look more like that.