I agree, law is becoming what engineering and medicine used to be in terms of career aspirations.
Yup. And, to point out, there are people with 1st class degrees in, for example, mechanical engineering, struggling and scraping for low level engineering jobs (~30-40K salary), much like people here are for TCs. Whereas, in law, you have the same fight, for the most part "only" need a 2:1 to be competitive, and don't have to pay/commit to a law degree to switch careers. Then, if you succeed, you get a much higher financial reward.
I'm writing this from the standpoint of these students btw, I personally don't underestimate the competitiveness of law.
Of course I've over-simplified, but in a sense you can see why law is so attractive now to non-law graduates / career changes. Inevitably, many more people will be applying as jobs in other degrees get worse and scarce.