Graduate school in the humanities is a trap. It is designed that way. It is structurally based on limiting the options of students and socializing them into believing that it is shameful to abandon "the life of the mind." That's why most graduate programs resist reducing the numbers of admitted students or providing them with skills and networks that could enable them to do anything but join the ever-growing ranks of impoverished, demoralized, and damaged graduate students and adjuncts for whom most of academe denies any responsibility.
I've certainly had my own checkered past with higher education, but I don't think the author goes far enough to draw a clear circle around "humanities." Certainly some forms of higher education are necessary and desirable. Still, for the most part, all valid points.