Too many people go to college anyway these days.
College should be for the best of the best, not super high school+ for the masses.
Not everyone can be a white collar worker, someone has got to do the manual labor.
And not every white collar job actually requires a college degree to do it well, although obviously a lot of companies will continue to require it for a while until the number of college grads declines from current levels.
Our universities are for rich foreign students anyway.