If the universities wait for the correction you refer to they will cease to exist, IMO.
That’s what I’m expecting. A new paradigm in getting a degree/education.
I spent four years at a major university back in the 60’s because it was expected of me. I spent a lot of time chasing girls, drinking prodigiously, hanging out with my frat-rat brothers and incidentally getting an education. I did, despite my best efforts, manage to become reasonably educated in a book sense.
My real education was gained in the Army, the oil patch, and trading mining equipment.
Hell, I could’ve done all that today w/o spending $20K a year and probably still ended up with the same result. Sure, no football games, no frat parties, no crosstown rivalry, but, so what?
All of that is pretty Nineteenth Century. University attendance today is a membership badge of the elites.
(During my rants I’m never talking about the hard studies such as medicine, engineering, math, etc.)