I do not think that what society needs is equal what the market needs. People with critical knowledge about society, philosophy, people that could question how good is the market deciding everything are not interesting to the market, but it is interesting to the society. Without publicly funded education, however, everything boils down to what the market decides.
_With_ publicly funded education, however, everything boils down to what some small group of unelected bureaucrats decide. That is arguably much worse.
It's also worth noting that most countries with totally free higher education emphatically do NOT allow just anyone to go study any major they like at taxpayer expense. Subjects that have few jobs waiting at the other end are strictly gated by intensely difficult entrance exams designed to weed out all but a small number of students, so that nobody wastes their time getting a degree in a topic where it is unlikely they can ever find employment.
Having been a victim of this type of fraud, I'd say definitively worse than arguably. There's no legal recourse, ITT tech showed the world you have to be able to afford lawyers for 15+ years, and even then you can only come to a settlement (not a verdict).
GE required physics at all of our local community colleges were structured so the pass rate was 12% one of those years. If student's can't pass without being academically dishonest, regardless of merit, its just state sponsored fraud.
