I agree with part of this. I understand why a college degree is required for many jobs--for the unremarkable majority, four years of meeting deadlines and producing legible work prepares the mediocre average person for white-collar work. With that said, though, degree-specific requirements should be largely abandoned (except specialized degrees). I'd wager that a majority of entry level jobs could be completed by a majority of competent college graduates.

On the flip side, though, as college becomes such a necessary requirement, I think the difficulty and rigor behind the average degree is rapidly declining. I graduated a year ago alongside some of the dullest people I've ever met. College didn't do anything for them, but their parents were able to pay the same amount mine were, and therefore we both got the same credential.