In order to save our university system there must be an overhaul.  For example in Ontario there are the top-tier universities such as UofT and this is where the general R&D funding should be concentrated.

Then there are the 2nd tier places where they have key specialties that can be enhanced (e.g., UofWaterloo and their STEM programs).

And then there are the others (e.g., Trent, Windsor, WLU, etc.) that should be folded together with their local community colleges to create undergraduate focused polytechnics.

Treating all of these 'universities' as equals is ridiculous and a waste of money and effort.