While these institutions can be progressive and may seem to foster that "unlimited freeze peach", they also function as businesses who want to attract as many intellectuals as possible with the hope of boosting their reputation.

As a whole, they form the intellegentsia that shape and steer our culture. I wouldn't say they're the sole dominating force of the cultural hegemon, but I think they play a very important role in manufacturing consent, under the guise of the scientific method ™. I don't doubt the ability to find purity in any research program, but more often than not those that are directly applicable to society (so maybe not the string theory department) can be weaponized to influence public opinion. See how institutions influence the meat/factory farm industry, as an example.

Considering these elements, it isn't suprising that academics who are dissenters against the status quo will likely have their career terminated (at least in the west). Take a look at David Miller in the UK.

Alongside the prestige and allure of many scientific journals, academics also talk of the "publish or perish" mentality. Now, I don't know if this is still a strong sociological phenomena, but everyone I know with a PhD or doing one who want to pursue academia really submit to that belief.

There has also been frequent news of academic fraud, or exposé of academic journals being extremely careless with what they publish.

With all of this in mind (I'm sure I can think of more), the "image" I had of academia has also been shattered. I've always known it is imperfect, but it is not the safe haven it paints itself to be. With that being said, I know many academics who mainly teach and seldom publish and who are great people. Many modern Marxists whose works I enjoy reading on MR also have a position in academia. So it's not all that bad I think.