I might not have been explicit, buts my experience is that most work completed by graduate students is of relatively low quality and the point of the exercise is to train people so that they are equipped to do actual science.
What fields have you observed this in? In capital intensive STEM research, the senior grad students and postdocs do all the work and the PIs are out of touch managers who have to spend all their time grubbing for money. I could see your statement being true for like economics or something, but it is not at all what I observed in the hard sciences.
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Just atomic swap to monero and back.
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