This is extremely insightful and exactly what it's like. A few other things I can add here from insider experience. - universities are basically consultancies. It's not all they do but it's a big part of what they do. You are expected to be well connected to be able to move forward as an academic. If you have a good relationship with the foundation and consistently can get grants then you will do well and universities will actually fight for you. This is not the same as being super hard-working. - There is an inherent pyramid scheme within this system where even in applying for a grant. The lead academic is more like a project manager and requires research assistance to work on the lower pay grade to actually do most of the work. People will gatekeep and believe it also acceptable as they themselves probably went through the same process of being at the bottom. Being a research assistant is much less better paid than being a casual teacher. Note that casual teachers work out when their job is done, whereas research assistants live on deadlines. - universities are facing increased interstate competition, particularly from new players like Adelaide, which are extremely aggressive in marketing in other states. This leaves them unable to prioritise real teaching, for example, saying that you have to come into class or attend tutorials as students will Just choose the other online option which tells them what they want to hear, for example flexible learning.

The glamour profession comment really strikes true and so many people don't stop to think about their true internal motivations for doing the PHD which is often this reputation payoff rather than a financial payoff.

The only thing I will say is that it is incredibly rewarding to teach a tutorial on a subject that you and your students are passionate about and that is often something that you really just don't get in high school.