If all of that knowledge and skills were marketable - yes. But many people go study bullshit degrees. They then expect good jobs and cushy salaries because degree. But apparently somebody needs to do dirty jobs too. Society would be much better off if a portion of people went to vocational school or were just trained at work.

Good plumber can advance standards of living and overall wealth much more than another failed literature critic. Who feels too smart to go to vocational school to learn plumbing after spending 4 years for useless diploma.