Half of the 'degrees' we have now are not academic, and half of these universities shouldn't even exist. I think all routes are fine. Everyone has different interests and learns differently. Trade school should be a prestigious route in its own right and they should be built up as such, rather than trying to chuck everyone into university regardless of whether it's the correct path for them. There shouldn't be a 'university' culture.
From my high school I can think of less than 10% of people that were honestly interested in/good at academics (of any type, science or arts/humanities) that should've carried on to university. In reality, it was pushed down and over 60% went. Most of them just spent their time partying.
And on the same note, schools should be better. It's sad that some people don't get to find their love in academics until college. It isn't necessarily always late blooming imo, it's that public pre-college education often sucks.
(And, IMHO, the many alternatives to academia aren't nearly the rosey picture you purport, particularly for people who hope to be sure of employment in a decade or two. It's clear that, while many will still be here, many won't.)
There should absolutely be institutions for education or trade-work post high school. These should not necessarily be universities and should still be aimed at all kinds of individuals, but talented individuals that are not good at and have no interest in academics.
Currently those institutions are often not widely respected. Colleges have become the norm post-18. That shouldn't be the case.
This is essentially my story too, but IMHE, it hasn't been a realistic option for the people I have known who "don't like academics," and consequently struggled or opted out of the system.
(Fwiw, I couldn't stand academics. However, through dint of self study, it didn't prevent me from graduating.)