It kind of depends on how you define "history". Before STEM dominated the hiring landscape, Universities were less career focused. No employers in these fields, as far as I know, have ever offered apprenticeships to teach new hires chemical engineering or applied mathematics from the ground up. University will not prepare you for a corporate job, exactly, but it gives you a background that lets you step into that, or go into research, etc. Lots of employers expect new hires to have research skills as well.

I think there are a number of ways in which financial incentives and University culture are misaligned with this reality.

I'm not gonna recommend them to anyone then, because the number one problem most of my friends have is having crappy jobs

Historically that's true, but I don't think it's true in 2025.