This whole scenario is just the logical conclusion of American anti-intellectualism. The need for intellectuals doesn't really go away, but rather we start assuming that "good at making money" = "has ideas worth listening to, on any topic." Not really surprising that many of these people are also frequent critics of academia and professors.

goes both ways. elitism exists on both ends of the spectrum. the academic side is largely the same thing except it's attained from years of schooling through certain pedagogues that tout the one true way and if you haven't been through that wringer, then your understanding doesn't count. true intellectualism, has humility and the everlasting honest pursuit for truth. neither of these extremes have this quality.