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Also worth noting that University teaches far more than "facts about the course subject" - that's lower education. University teaches broadened horizons, critical thinking and evaluation skills etc etc - which is why even degrees in irrelevant to the job are preferable to no degree when it comes to employment.
People who think that Uni just teaches "facts about the course subject" mostly didn't go to university, and assume it's just a continuation of school, or failed at university - even if they ended up with a degree, even a 1st, or as valedictorium. Hell, even small colleges that only teach 1 subject matter (such as mine) you learn far more than just the subject matter.
This is exactly why both ends of the political spectrum hates universities and intellectuals - because they can see through the rabble-rousing bullshit (apart from the ones who got their degree, but failed at university learning) - and generally, can both articulate and bring the receipts.
This is a very valid point, butni think it's old way of thinking. The world has changed (no offence meant).
Degrees used to stand graduates out for just these reasons, rounded developed thought processes, organisation and professionalism skills etc...
However for a number of reasons, these aren't desirable, or taught.
The saturation of degree educated people to the market devalued the degree, and the requirements for degree educated people in general has increased across the markets (to lower standard jobs) but also decreased in value.
Not to mention the current job market, employer attitudes to certain degrees, and career salaries.
In the new world, over educated under earning graduates are everywhere, the job market has been decimated by them.
I think if you were to make the argument longer term, degree educated people are more focused and have a better skillset to succeed, because stats prove that within 5 years they compete with uneducated people for low paid jobs, but even then, with the implementation of AI, and tools to skate through a degree without an original thought will devalue the degree even more.
There's a running joke that 5 years from now we will have the lowest skilled surgeons, engineers, doctors and pilots of all time, as those who study these subjects, and, as you aptly mention, fail at uni, can AI ify their way through the degree and take a spot of a determined motivated and professional person.