Regardless of whether it is a majority or a select few who are actually shtaiging the model itself has to be called into question.
The real question is, should a person be learning all day (and getting paid from the tzibbur for it) or not?
rationalfrummie hit the nail on the head. This was an activity for the select few in Europe that showed EXTREME learning abilities. As you said, in present times, the economics of it doesn’t work. I would never want my daughter in a school where the “goal” is to marry a kollel guy and struggle to put food on the table