Earlier quoted context omitted.
I disagree. The changes a school would need to make to the school, the curriculum, and the faculty to switch from teaching accounting or gender studies to welding or HVAC would mean you'd be pasting an expensive University of Misc State logo and mascot onto a whole new enterprise, implicitly putting a premium on an educational path that's really all about ROI.
I think many people would be willing to pay that premium for a college experience. And from the college's point of view, changing focus is certainly better than shutting down completely.
On the "academic" side, I don't see how the college experience would work for a trade school, while on the "social" side, it's crazy to think you'd pay the premium for most of these things (except networking, as people often point out for "regular" colleges) when there's other avenues for socialization or sports.