Yep! Our family said this exact same words and translated our CV into Spanish and German. My wife was depressed at first that her fifteen years of working in academia and research all comes to this simple idea. There is clearly no future here.

The institute she is at did not take on a single PhD candidate this year (for the first time in its history)... Meaning some PhDs will graduate this year and next year etc - but in four or five (or seven, lol) years the real impact of that decision will hit.