the article went astray midway and didn't address the issues it started with.
PPP could very well be implemented, given the fact that IIM-A has a huge corpus and not all of it is donation from alumni. The institute could look at consulting, research revenue beyond the fees.
A brand has a snob value only if it has exclusivity. What current students or alumni fear is dilution of their brand. Given the intellectual capital in India i think more IIMs are justified.