Sorry, you can't have it both ways. If it's not worth it because the universities are overrated then people won't go. The problem will solve itself.

Will it? Those who make it through will continue the narrative because lettings others know will reduce the value of their degree.

Why do you care what the narrative is? If you produce something of value the market will reward you.

Because I'm the next person about to decided where to go/what to do. The narrative informs my choice. If the narrative is false then the market is basing decisions on incorrect information producing unrelated results but will never be aware to self-correct.

This thread is working off the assertion that our top universities are overrated.

What you're talking about is just introduction to the concept of pricing. Each person has to determine for themselves what it's worth. It will be worth more to some than to others. Everything of economic value gets priced, even if it's socialized.

You can't escape the market. If you think you can get a better value at a cheaper school, or in a different country with socialized schools, go there. Some will let you attend their universities for free even if you're not a citizen. Meanwhile people from all over the world will continue to scramble to get into our top universities. Maybe you know something they don't.