A college degree is less important now due to technology & alternative learning options. Intelligence is not solely measured by a degree as it encompasses various skills. Critical thinking, problem solving, creativity & adaptability are examples of intelligence that can be demonstrated through different means.
Yes, I agree with you, gone are those days when education was all a man needs for survival, here in Africa we were meant to understand that going to school and getting the degrees and certificates was for our future, as we can use it to get well paid jobs (Government or private) in other to earn a living, but as we grew up and faced life proper we were meant to understand that survival was about 30% of your degree and 70% of what you can do with your hands, like a skill,
Most persons studied hard to know, while some studied to pass exams, the ones that studied to know actually knew and those that studied to pass exams, they actually passed the exams but forgot what they read after the exams, most first class students can't use their intelligence to real life issues, they are only good at reading for exams and getting good grades.
Your opinion is the same as the statement from the Indonesian Ministry of Education and Culture, which states "Higher education is only a tertiary education requirement or is not mandatory". On the other hand, the government requires that to become an ASN in the government or BUMN, college graduates are required. And in the 1945 Constitution, Article 31 states that every citizen has the right to education. This confirms that it is the state's right and obligation to ensure access to adequate education for all citizens. So in my opinion, higher education for citizens is very necessary to create a developed country.