You don't think more econ majors would lead to more Ph.D students? Or at least a higher quality of Ph.D students?
(I'd think the more appropriate counter would be that it would take a long time for them to affect you... 
)
Undergrad Econ in the US is hardly preparatory for econ grad school (Hell, US master programs are not very good preparation for PHDs). You would better off with a degree in Mathematics, Computer science, or even physics, and just take up to intermediate theory.
As to the student's they are just upset that their opinion is not as equally valid as their Professor when it comes to the underpinnings of basic theoretical economic models.
