Universities survived half a millenium being networking grounds for the upper class, and they will survive another millenium being networking grounds for the upper class

The last century will be a mere footnote in a case study of folly, where 100% of the university's problems came from dealing with the underclass at all with a side helping of federal funny money. It will be comedic relief amongst starry eyed business majors, waiting to satisfy a condition of their trust fund

The employment sector's decision to require degrees is mere happenstance and something that sector will need to reconcile on its own.