Ok this article from the CHE is not going to be to my liking. I've supported my colleagues who study Spanish American literature, but this guy is not making much sense on the basis of facts.
Maybe my defensiveness is coming into play here, but I think if I were a Latin Americanist, I would have many more job opportunities. I don't think it's true, either, that Latin American authors are considered nobodies in Spanish departments, or that use of vosotros and leísmo is dominant. Very few undergraduate students have a ceceo or use vosotros, ever, even if they've studied the summer in Barcelona.
Mexico is the most populous Spanish speaking country, and yet some departments don't have a Mexicanist (we have two, and just lost one dean who was one, along with a junior colleague who's worked a lot on Mexico.) That's a fair point, but comparing Mexicanists to Peninsularists is not an apples to apples comparison, since most Latin Americanists do not study a single country, except in the case, precisely, of Mexico. People study Latin American literature generally, or are specialists in a period, a genre, or a region, less often a single nation state.