Yep. This is, of course, what's really happening, same as before. The next step is that highly educated jobs in the industry disappear, which then gives you cheap colleges with great teachers, but not much reason to study, and then we're back where we started this whole debacle in the 1990s.
Next step is expensive grifty colleges with bad teachers, as all the good teachers will flee or just not go into teaching, and nothing will be cheap because then what’s the point of the grift?
Picture Bob Jones U at Harvard scale. Or the Musk school of engineering where they teach that sensor fusion is a bad idea actually.