The outcomes are only bad for lawyers because they all graduate with mountains of debt and get totally shafted if they can't get a super-high-paying job to cover that expense, and those high-paying jobs are in short supply. In some sense, though, society as a whole would be better off if there were more lawyers, and more of them were able to work for less money: poor tenants would be able to afford counsel in landlord/tenant disputes to fight unjust evictions, people wouldn't be stuck in failed marriages for want of being able to afford the legal costs of a divorce, etc., etc. All sorts of people could benefit from legal services they can't afford, and you'd think that market forces, with the increased supply, would drive down cost. It hasn't, though, because debt loads create an artificial floor.

I think exploring more of the possible solution space for how to train and pay tech folks has all sorts of potential for society as there are definitely parallels there in terms of the potential social utility of making technical labor more abundant and less expensive. Obviously there's a downside for people who work in tech and keep wanting to make fuck-you money, but so it goes.