Harvard is an educational institution with a massive endowment that makes them independent and have to answer to no one. Apple is a publicly traded company whose one objective is to make money. The board is compelled to fire a CEO who fails at this and replace them with someone who can deliver more money to shareholders. They did this to Steve Jobs in 1985. If they fail to do this corporate raiders can sue and even conduct a hostile takeover. Harvard's board is concerned with their brand reputation, so graduates of their schools can proudly weave "I went to Harvard" into every professional conversation they have for the rest of their lives. Harvard has incentive to weather short-term monetary losses to preserve their pretentious brand image. There is no risk of a shareholder revolt or hostile takeover. No matter what happens, there will always be more students willing to pay to go to Harvard. Problems in higher ed will affect and lead to the closure of lower ranked schools first. A school like Harvard that counts founding fathers like John Adams as graduates works like the Catholic church, in decades and centuries, not in presidential terms or daily stock value changes.