In short, quality in translation is also being killed.
I teach students and I can say that they have nowhere to go for the time being. I often tell them that they can have a life outside the Translation Bureau, that they have to look around and they will find it.
Who will train them? Medium-sized and large translation companies don't want to hire them because it is too expensive to train them. Energy, training and quality are lost. I don't want to speak for other universities, but I can tell you what the situation is in mine. When students graduate from university, they are just ready to start learning.