One can also observe that no university ever decided on its own to eliminate tenure. Just to be clear, universities have not been run by the faculty in a long time, if ever. They are businesses, or “industries” to use the parlance on this thread, run by administrators and boards to maximize something that combines profit, prestige, and other reward structures. And these institutions never get rid of tenure by choice, even if they are using fewer tenured faculty. Therefore tenure must be bringing some advantages to the institution itself. Only these external acts by state legislatures (Wisconsin earlier, Georgia now) attempt to weaken tenure across the board.
One can argue that it is a necessary step to reduce costs and state taxes, but it certainly does not lead to a better university.