I would say so. The problem with modern education is ever since college started being subsidized by the gov't, literally anyone with a pulse can become 'college certified'. This obfuscates the pool of innovative people who can actually approach a problem and solve it, rather than follow a preset curriculum that will inevitably become obsolete. Most college curriculum's leave their students impotent; they're trained to handle ONE thing ONE way, and when they're in the field and the world changes on them they're left gasping for air, screaming "I WASN'T TRAINED FOR THIS WHAT DO?!?".
If you were worth something you'd have made YOURSELF worth something, not chased after the approval of some faceless institution. That's the problem.
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Actually, the REAL problem is beyond the topic of state-approved education. The governments ultimate goal in subsidizing college isn't to 'improve the prospects of each generation', but rather to have a line of irrevocable debt they can point to to retain their credibility. Having >$1,000,000,000,000 in interest-bearing, irrevocable debt is quite a nice asset to have for a government that is failing to retain the credibility of its fiat currency.
tl;dr the economy's gonna implode, build your own portfolio that you can use to prove to an employer you know your shit. don't pay someone else to vouch your skills for you, vouch them YOURSELF. Entrepreneurship is the only way anything ever got started.