The fetishizing enabled the massive explosion in what's basically a university industrial complex financed off the backs of student loans. To keep growing the industry needed more suckers...I mean students to extract student loans from. This meant watering down the material even in technical degrees like engineering, passing kids who should have failed, and lowering admission standards (masked by grade inflation). Many programs are really really bad now like what should be high school freshman level material. Criticizing the university system gets you called anti-intellectual and a redneck.

A lot of debate around the idea of student loan forgiveness but nobody is trying to address how the student loan problem got so bad in the first place.