I mean we can reform it without necessarily throwing out the baby with the bathwater. In Europe a bachelor's can often take 3 years, and maybe we can even shrink it down to 2 years; this is already kind of a thing in the US with some schools offering a 5 year bachelor+master's program.

Realistically maybe we reform community college to be the required thing instead of traditional undergrad, since the cost and length is more comparable.