The first point kind of is the biggest issue with modern universities and education. Not all jobs should require a degree, and people shouldn't be forced to get one in order to get a decent job. The fact so many do is why a lot of students only attend university for a piece of paper rather than an interest in actually learning anything, and why universities don't want to really challenge people any more.

If the first point wasn't true and the second point was, the world would be much better, since everyone who wanted to go to university could do so and everyone who didn't wouldn't be forced to.