Universities are intended to be open places, and the locks on the doors are intended to (a) tell people "don't go in here" and (b) discourage casual theft. They are not intended to stop a determined group of students intent on breaking things. Lots of these things are dangerous, and breaking them doesn't help.
The university, I feel, has a responsibility to keep everyone safe: people working in nearby spaces, people walking from place to place, and even the students intent on smashing things.
Is President Meanypants really going to tell Mr. and Mrs. VanSnooty that he's sorry that their Boopsie is dead, but it's their urchin's own fault for busting up a lab and taking a deep whiff of the chemicals they released. This would be a PR and a legal disaster.