The capitalist system has a problem with creating vast income gaps and people doggedly chase higher wages because if they don't they won't be secure in housing, food, healthcare, or retirement.

If speaking French and knowing French literature paid as well as programming, there would be more French speakers.

Universities can't fix problems created by the capitalist system. They are just educational and research centers. If a university tried to "fix" this particular issue they would just end up exacerbating it by restricting program sizes even more, making it so that the people with accredited university degrees in CS were even fewer and therefore in higher demand. This would just mean people would go to other universities and start to depend on direct admits into programs when making their decisions. This is already happening and probably why this whiny prof's department is admitting more and more students into the program every year.

If we want to fix the actual problem, we would need socialism.