Yeah, you are correct, at least in my book.  A modern cost effective University has to mix specialized teaching faculty and specialized research faculty with the latter in smaller numbers.  In older times, tenured faculty were not highly paid giving up the big bucks for a life of comtemplation, teaching, research, and stability with tenure.  Now tenured faculty make the big bucks driving students to massive debt.  Current practice cannot continue.  Students simply cannot afford current rates.  (Of course having too many highly paid administrators does not help.)