Colleges have become massive businesses whose purpose is to jam kids through to graduation (thus maximize tuition fees). Most kids don't really want to be there. Both parties are incentivized to "get through it". When a large number of young people have degrees obtained this way, is it any wonder the value is diminished? It's a shame, because I loved (and continue to love) higher education.
Is it really true that, in the US, many college students don't want to be there but go nonetheless, despite having to pay absurd amounts of money? Where I study, uni is basically free, and I've met very few people in my degree who don't want to be there. This seems absurd to me.
Judging by the number of people who don't show up to class or otherwise just "get by", it's absolutely true. People "go to college" because they're told it's their meal ticket into the middle class. This is the point of the article.
Ask the average person if they'd rather pay to have the paper degree and not have to attend any classes, or get the education for free but not receive any paper credentials. You'll have your answer.