Education wasn't always solely or even mainly about earning credentials. It's only when industry offset their responsibilities to train new employees to universities (and thus the taxpayer in publicly funded education), that suddenly education became entirely about getting a corresponding job and getting a piece of paper.

If you think of education as a public utility, something that unequivocally raises the standard of living, then it becomes about forming a population of educated and informed citizens who can, amongst other things, participate in democracy a lot more effectively.