Irrational exuberance for Masters degrees?

From InsideHigher Ed here:

The explosion of new master’s degree programs in recent years hasn’t corresponded with a surge in students, analysis by the research and technology services company EAB suggests.

Megan Adams, managing director of research at EAB, said many colleges have overestimated the popularity of new degree programs. They may anticipate awarding hundreds of degrees per year, but the true number is often a single digit, she said.

EAB chart showing lower expectations for growth every year since 2013 (NCES actual and projected master’s degree conferrals)