Absolutely bonkers.
“This means that one in every 30 people in Australia in March 2024 was on either a student visa or a graduate visa.”
This is Boomer Feudalism - the importation of a peasant class to undertake slave labour for wealthy land owning Boomers whose only interest is the increase in value of their property portfolios.
https://www.macrobusiness.com.au/2024/04/albo-delivers-record-temporary-visa-numbers-in-q1/