it may be “worse” in some senses, but you just need to define what exactly you are talking about. Someone at U Chicago Economics program and someone playing football at U of Alabama are just not comparable. Also, in terms of employmwnt, one had to inspire to be an elite person in 1950s if he ewnt to college, so, frmo Jewish perspective, “most” Yidden did not need it. Certainly L Rebbe and Rav Soloveichik were exception to that.
Nowadays, if you are not in college, you are limited to “heimishe” professions, that has their own downsides in terms of pay and job security and yetzer hara to cheat the government and others as a result. We also have lots of ways to mitigate problems that occur in college.
A large number of people can earn an honest living after getting a degree in a safe way and continue their learning through their life.