Some of the graduates may not have the greatest critical reasoning skills, but surviving in such a program most definitely requires significant determination and dedication.
Equally advantageous: extreme mismanagement at all levels.
I spent five years in one of the most prestigious biomedical science graduate programs and somehow managed to get a PhD (I say this not to brag, but to make the point that they'll give just about any asshole a degree). I have seen countless graduate students and postdocs coast along for years with no results to show for it, without any action from the supervisors. Sometimes bad luck is a factor - even the most talented scientist can be helpless when faced with an intractable experiment - but a good manager knows when to cut his/her losses. A good manager also knows when to say, "perhaps grad school isn't a good environment for you. Maybe you should quit now with an MS and go do something more useful with your life." A good manager realizes that when someone stops showing up for months on end, it's time to fire his sorry ass and hire someone useful, or buy more equipment. An HPLC never shows up at 3pm because it overslept after eating too many pot brownies. (True story!)
What makes this really depressing: most of the people I went to school with were far above average intelligence and capable of doing excellent work with the proper motivation and management. There are lots of exceptionally bright men and women in their 20s slaving away in laboratories on soul-crushing projects, supervised by an odd mix of micromanagers, passive-aggressives, and absentee landlords (for lack of a better term). Most of us are utterly unsuited for graduate school, either in theory or in practice. Only a fraction are cut out to be full research faculty, and even some of these I wonder if they'd be happier doing something different. (The remainder, I seriously wonder whether they'll be fucking up their grad students' lives in 20 years.) Most of us go to grad school because that seemed like the logical route at the time, and we enjoyed learning and experimenting. After 5-6 years of largely wasted effort, almost none of us would still recommend grad school to our younger selves. I still feel bad about a few of the younger students who didn't get the brutally honest advice they deserved, because we didn't want to hurt their feelings.
There are probably a few sub-fields where it is possible to stay on the cutting edge and be employable for years after graduation - next-gen sequencing, perhaps. But I get depressed every time I go to meetings and meet students and postdocs with IQs well above 120 slaving away on projects that are probably useful but certainly not world-changing, and who will probably end up with one or two papers in Journal of Molecular Biology, and eventually need to find jobs in their chosen fields. What jobs? Even if you're the most badass electron microscopist in all of New England, what does that prepare you to do other than perpetuate the cycle of mismanagement at another research institution? Assuming you can even get the job, of course; even a top-tier journal publication doesn't automatically get you anything when you're competing with several hundred other postdocs.
Sadly, I still haven't figured out what to do with the degree that took most of my youth and nearly all of my sanity. I never had any ambitions towards faculty posts, fortunately, but there aren't a ton of jobs in industry in my field either. I still work in the same field in academia in a full-time researcher position, which is relatively stable if you ignore the fact that my employer is $14 trillion in the red and counting. I'm probably marginally more employable because I managed to pick up very good programming skills along the way, but still, if I want to move into software engineering I'm either going to be competing with CS PhDs, or settling for bachelors-level jobs. Every time I read my alumni newsletter from college I cringe, and think "Jesus Christ, why didn't I just sell out like everyone with a brain?"
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