I agree with so much of this.
Yes, the whole admissions process must cost so much more as it's not based on actual results (like the case in most other countries), albeit I'm sure AI plays and will play an increasing part.
When I went to uni in the mid 1990s, I didn't even know there was a wellbeing team available (not sure if it was). I just don't remember anyone talking about it and the % spent on that seems far too high. I do think it's partly due to a more general issue with mental health almost getting too much focus to the extent that younger people self-diagnose everyday, normal up and downs as 'conditions' e.g. depression and anxiety. But that's a discussion for another day!
We also had lectures with 100s of people and that was fine; we also had some smaller tutorials. But I also didn't expect - and this was in the UK too - as much handholding that seems to happen nowadays. I think for my final-year dissertation I saw my supervisor 3-4 times tops. I did notice that some other students spent far, far more time with theirs but I honestly think maybe some of those perhaps just weren't mature enough yet or suitable for uni (and I did in the end wonder how much help they had got from their supervisor, perhaps they were used to this from home?).
Most other European have free or virtually free provision. And many countries do not have the injection of cash that the UK has from international paying students.
And, yes, research should to a larger extent be driven by academics seeking grants, surely?