Do not get me wrong, these classes might be only five students in size. I doubt any wizard class beyond general education lectures would have more than ten students. but that still means a given group of wizards can turn out 5X the apprentices of a single master.
We know two topics in which wizard tradition has been firmly entrenched: wards and defensive mental magic. In Summer Knight, an "old dame Warden" showed the whole council a list of newly-developed warding theories meant to incorporate additional protection against vampires. Similarly, the wards set up by corpsetaker in Ghost Story were identifiable by Harry as previous generations of the same principles he knows. Speaking of Corpsetaker, in Dead Beat, she recognize Harry's mental defenses as being part of the Council's standard doctrine, and she mentions they've been using it for a century.
I've always thought of the White Council as a Certification and Continuing Professional Education system more than anything else. Once the Council recognizes you as having the potential to be an apprentice, you are assigned a coach to help you develop your own style as well as make it compatible enough with the Council's generally accepted theories of magic until you are recognized as a Wizard. Once a Wizard, it is your responsibility to go to the Council Meetings to keep yourself up to date with whatever new theories they present to you.
[...]I thought, well if the wizards are going to exist on this world then they are going to have some kind of organization of one kind or another, and the White Council ends up being kind of the Bar organization for the wizards you know. If you want to be someone who's taken seriously you have to show up, you have to pass their tests, you gota put in your time helping out, and then you are recognized as a full wizard.
Unfortunately, that's not good enough anymore. Wizards of the White Council are still too rare to catch everyone with the potential to hurt others before they go Sith. Which is why they have relied on their allies, organizations like the Venatori and the Paranet to do the flagging for them. But that's not going to be enough in the future, I don't think.