I think the problem is you two are being colorblind as well.
When we talk about the Arts & Letters degree paths being dominated by the privilege class in a world where education is only looked at through the speed to value and ROI it can bring to the capital markets, we are saying that the Arts & Letters will continue to be dominated by the "Pale, Male & Yale" demographic. Didn't y'all read my review on Netflix's treatment of DeLillo's "White Noise"? Do we really need more of the 80's cultural scene? I'm joking because I think YFGIS would relate, but I'm serious.
When you make it to where only the elite can study disciplines and crafts that aren't directly tied to a production KPI the minute you leave the campus, you are marginalizing poor (and people of color, especially) in defining and curating what is cultural relevant, through our macro, shared aesthetic (via directly in what books get published, what movies get made, what art gets galleried, etc. through indirect as this is communicated and trickled down).