Just as the guild structure was socially conservative--and hence easily superseded when the more progressive market system, flourishing along with the industrial economy, came along--so is the present MFA credentialing system.
Columbia University and Professor Hospital should be looking to their own house rather than sending dodgy communiqués to a smaller, much-better-funded program which is currently enjoying a meteoric rise in popularity and reputation.
Myth: MFA programs are desperate for tuition dollars, so they'll admit almost anyone. Fact: Portland State's MFA (ranked #52 nationally) is a tougher admit than University of Pennsylvania's undergraduate program.
I thought McNally, because he has experienced the Iowa Writers' Workshop firsthand--and lived to tell the funniest tale ever written about it--would be an ideal subject to interview about a lot of concerns in the writing and publishing industries.