I think the smarter unis will adapt because they have no choice, but heads will roll anyway. Japan is a good example. While American universities are supported by growing demand, the population in Japan is shrinking at an alarming pace. There are universities, once leaders in their fields, seeing cutbacks from the Ministry of Education and facing bankruptcy. The government is also looking into closing a bunch of unis at the bottom of quality standards and utility of their courses.

That said, thriving universities here are not necessarily thriving because they are better. Location and price are a major factor, which may sound ridiculous, but is in line with the overall fast-food philosophy of higher education in Japan.