You make a great point here. The quality of the grader may be higher with an AI than a stressed out grad student.
It's long been known that a longer essay answer is more likely to get a higher grade. And yeah, having been a student and a stressed out grad student, after about the 20th exam, only length is the real signal of grade.
Other comments point out that with the prices of tuition these days, students should be expecting a lot higher quality of feedback (grading) than what they are getting at any random R1.
It really does seem that the University system (as opposed to the college-esque system) is broken and that the additional AI fears are just another log on the already collapsed bridge. We're getting over the wrong thing.