I think you're definitely right. Most programs out there are not worth paying anything for in the first place, much less $25,000 a year.
The problem, at least in my diagnosis, is that there is a huge disconnect between the "ideal education" and education in practice. Even at elite institutions known for the quality of their teaching, half or more of the work is done by screening their applicants and admitting only those who are equipped to succeed. In other words, the summa cum laude graduate from a state's flagship school would probably be a summa cum laude graduate anywhere. The same phenomenon is seen in charter schools, who pad their statistics by choosing only excellent students, and then claim that their better outcomes demonstrate the superiority of their management.
A useful concrete example is my academic department. We are well known for the quality of our teaching, and even provide graduate students with specific and well tested training in pedagogy, which is extremely rare in a STEM field. (This isn't to say we slack in research; this is a top school in the field. In other words, our graduates go to prestigious postdocs almost without exception, though in recent years its been getting harder and harder.) Nevertheless, we are ultimately limited by what we have to work with. If you have motivated students, you can teach excellent classes covering difficult material. If your students are unmotivated and without preparation, there is simply a limit to what you can teach them.
People who work in higher ed in less than prestigious institutions do not have the advantages we do. Their students are often (but not universally) less motivated and prepared than ours, so they have to work much harder to teach the same material. The problem is that everyone is already working as hard as they can, so in the end they are probably doomed to fail. They will retreat onto statements like "teaching how to learn." Yes, in theory, that is what the value of a liberal arts education is - you learn not only the curriculum but also acquire the attributes of an educated mind: how to think and reason; how to acquire more knowledge when needed; how to communicate both verbally and in writing. This is the "ideal education." Nevertheless you will simply never acquire this if you lack the tools necessary to do so - and if you have these tools, you will acquire them regardless of where you go.
The answer is that, frankly, college is pretty useless for most students. If you can make education work for you, you are very likely to succeed anyway. Personally, I cherish my education. I benefit tremendously from it, and at this point, my education colors my entire existence. Nevertheless, most of my high school classmates - even those who did relatively well in class - were woefully unprepared to take advantage of a college education. A corollary to this is that, no matter how much you value the academic lifestyle, it is extremely irrational to continue working in it unless you are a "winner."