I half agree, but it was also for other purposes;
Moby Dick is hard to read and takes extra work to understand the historical time it comes from
It is difficult to sell in the competitive world of university recruiting
It doesn't fit nicely into a political narrative of our time, and that means some professors won't want to waste time on in, especially if they have an agenda
State universities owe it to their constituents to prepare people for the economy and liberal arts can be offered there, but like at private schools, a degree is getting rally expensive and loans are harder to pay off without a directly marketable skill that can get you a job.
A history degree costing $120,000 after  4 years is a second mortgage and it won't keep you warm and dry in the winter if you can't use the education to provide a valuable skill