The same thing is happening at IITs. Follow the herd. We shall choose disciplines based on last year's closing ranks. After all, not everyone last year could be stupid.
You are going to have a career over 50 years. It is very unlikely that you will have a single career. You would probably change your career 3 times, and you are likely to make more money in later careers than the first career, that is why you will change. Does it then make sense to worry about current placement data. Does it not make sense to think of what will enable you to change careers, what will enable you to keep doing well in a career which is not in the area of your under-graduate studies. Is there any statistics that point to that people who did CS 10-15-20 years ago are richer than their non-CS counterparts. (Actually, I have examples to the contrary.) But in the era of instant gratification and with a strong sense of entitlement, one can not look beyond last year's closing ranks and placements.
I get a lot of emails telling me how useful this blog has been for them. A lot of sites link to this blog. However, what is the impact. So one year, I got the data from JEE about the program that all the candidates got finally. I looked at the data from the following angle: How many students got the program which was the best s/he could have got based on last year's closing rank and the next two programs in order of closing ranks, or the best option (again in order of closing rank) within the zone of that candidate. (It was little bit more complex.) More than 98% candidates had such a program allotted to them. Just think about it. We would like to believe that these 10,000 are absolutely the best that this country's school system has produced. And almost all of them go with the herd. Even the toppers amongst a billion people do not have the confidence of thinking independently. This blog has no impact what so ever.
So, CSE will remain the best option for many years to come.