Shouldn't be more difficult now to conduct research though?
I mean as you mentioned, a lot of PhD candidates couldn't even get to the finish line when their studies involved intense research activities.
I know schools don't expect students to publish, but they look very good on an application, and without any context. At my school, there was some research going on, but it was nothing worthwhile. I know many of my friends who just drew some shapes and graphs for a paper in LaTeX, got their name in a submitted paper, and wrote it as "research experience" on their applications.
For me, a true research experience, is one that you'd struggle to describe to someone out of your research group. The research must make you the most knowledgeable person in the whole school in that particular task of yours.
I really don't think this many undergrad students have been able to do that. Yet you see someone in a 4-year program with 2 years of research experience. That is pretty surprising to me.