Auburn is more than just a flight program. It is unique in that grads are prepared to do things other than fly airplanes upon graduation.
Auburn is also an affordable program. Each one that closes puts a little dent in the supply of future pilots. That effects the entire industry, which is why this squawk is worthy of being here.
As far as Riddle being the "leader", I really don't think "leader" can be properly defined when it comes to collegiate aviation programs. I can tell you from flying with grads from every program that when it comes to checklists, flows, procedures, etc, they're all the same. For the longest time Auburn grads seemed to think outside the manuals, however.
While I hate to see anything in private industry/education come to an end...other than alumni...is this not just a matter of private business? I have to imagine that other sources such as Embry Riddle and others have taken up the position as leader in the industry. So, ebb and flow seems to be the game of the day.