Editing to clarify — read the actual article, not just the clickbait headline. The point they’re making doesn’t apply to all MA programs, or even all MFA programs.
There are good programs that offer a decent return on investment of time / money for the average student. But there are a vast number of very expensive programs with little-to-no-funding for their students that I consider wildly exploitative, trading on students’ dreams and misunderstandings about what a MFA will get you, primarily in service to the bottom line of the neoliberal university.
Hence the Portolan Project.