I feel like this is what happens when you associate higher education with "the basic requirement to get any sort of decent job". before you go to college to become an engineer, a lawyer, a doctor, etc etc. now, you need some sort of college degree if you want to be any sort of paralegal, nurse, even many technicians.

I bet, as degrees got more attainable, a snowball effect was created where employers had more of an appetite for people with degrees, so more students sought college, colleges got more funding, and therefore laxed their standards to invite even more students. repeat until we have what we have today.

instead of more people getting smarter, the reverse effects happens where the seal of academic achievements simply means less until it basically means nothing. the academic industry is due for a serious collapse.