Another thing is culture. The in the company's where I've worked at, how the men talked about women was pretty off-putting to be honest. They didn't do it in front of women (obviously), but even your nerdy developers would drop comments that had me wondering whether I was really in the ckrrect field. I'm sure the women in those places notice that even if it's behind their backs.
We won't care about men being under represented, but colleges may worry that they are losing out on customers if the male population of college buyers swings that low. That may prompt marketing campaigns to try and attract men into college.
I mean, it is not like we care about women being under represented either. Nobody is ever bothered by just 5% of firefighters being female. Tech was only ever concerned about women in tech because the industry was desperate for a larger pool of workers and women looked like an untapped source of people.