the set up was beneficial to degreeless teachers, and thatbwas a good thing.

Degree-less teachers, doctors, pilots, lawyers, engineers.. precisely how is that a good thing and for whom is it beneficial?
Recruiters get paid. Schools get tuition.
Students get dancing FTs spouting jargon, unable to write correctly, blind to grammar. Hard-working parents get bilked.
Almost all FTs teaching in China would be prohibited from teaching in their country of citizenship.
Chinese students deserve genuine teachers. If schools require genuine teachers they can pay competitive salaries and recruit with transparency.