Liberal arts colleges have a duty to be custodians of history, philosophy, and culture of the spaces they inhabit. Chasing national rankings divorces colleges from a local mission they have even as they teach timeless things.
The saddest aspect of the US' cultural decline is the death of local pride. Midcentury historical societies flourished in small towns throughout the country, with the help of local gentry and profs from local colleges. The death of local pride is the death of broader republic.