There are too many grad students, is my point. Like, obviously, not all grad students go into academia, but that is the main career track for a graduate degree in a lot of fields.
What I'm saying is that it can't be qualitatively different.
You can't guarantee every IC they will become a manager (which a professor essentially is) in any area and academia is no different. Larger number of students is what allows both the scientific progress and better filtering of potential professors.